|Ticker||Relative Strength Index (14)|
Here are the sectors ranked by RSI. Not much change here, but XLF is moving up rapidly.
We are now close enough to the 2007 high on the SPX that TPTB will very likely mnake sure we get there. Whether we have a correction before or after is unknown: right now I suspect the most likely thing to happen is a minor pullback here, another run past 1500 and on to the old high, then a pretty major correction. I have ben hearing that there is now way the market will collapse before the election. I heard the same thing in 2008.
I will have the new highs update shortly.