Yesterday in the days of our rotation..
we got a counter trend bounce in gold..
again these numbers are relative to the spx
gold was up 2.42%
Healthcare +1.78%
Regional banks -1.41%
Retail- 2.66%
Consumer Disc -1.21%
Metals and mining -1.22%
Based on our Bearish opinion of gold... that was the oversold bounce.
Seems like Retail could bounce today....
Wednesday, June 17, 2009
Yesterday
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FWIW, the XRT retail index is at the invivo stop today and if it closes below 26.90, that would trigger... prolly tomorrow or this week?
Another off topic: IYT has failed to confirm the Jan high in the SPY, so Dow Theorists have that to look at as the market rolls over.
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