Now most of the sectors are sitting above their 50ema, with XLK, technology sector showing the best performance. some defensive sector like consumer and health, which are doing relatively well in the down turn, are lagging behind.
XLB and XLF have finished retesting the trendline and now are edging higher. If the market want to go higher, it has to led by financials and energies. Uptrend without financials are purely bulltrap and can not sustain. Now these two sectors indeed shows the strength.
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