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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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* If the dots don't connect, gather more dots until they do...or, just follow the $$$...





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Tuesday, September 18, 2012

SPX vs Financials vs Emerging Markets

Further to my post of September 4th, I would note that the SPX, XLF, and EEM have recently broken above trendline resistance, as shown on the Weekly chart below.

The Daily chartgrid and the 2-day graph below of the 9 Major Sectors show that profit-taking has occurred since last Friday, particularly in the riskier Offensive Sectors, while some of the Defensives have made some gains...Technology and Industrials are in a neutral holding pattern.

A break and hold below trendline support on the SPX, XLF, and EEM may see further flight from the Offensive Sectors and into the Defensive Sectors...otherwise, I'd expect to see money flow back into the higher risk Sectors as they continue their trek upwards...ones to watch.