|Ticker||Relative Strength Index (14)|
The sector relative strength was a surprise, at least to me. XLY has really gained a lot of strength in this last rally, XLU dropping off is not a surprise.
When a market is trading a pattern, no matter how obvious, you have to stick with it until it stops working. I sat out the last two moves (the last down move and this up move) because I anticipated that it would stop working then. It hasn;t, so I will be looking to go short if this up move starts sputtering.
I will have the new highs update shortly.