Just a quickie...
The COMPX has "under performed" for quite sometime now, but the last few weeks it is acting as a leader...
stockcharts.com[r,a]daclyyay[pb10!b20!b35!b50!b100!b200!c200][vc60][iub14!um12!ui14,3!lh14,3!la12,26,9!ll14!ld20!lk14!lv25][J6467284,Y]&pref=G
Why??
Maybe, just maybe the Street has been pricing in the way options will have to be expensed starting in the next qtr, but at the same time, maybe the options expensing will not be so bad...
If this is the case, get ready for a nice Summer rally with "tech" being the leader...
Another bullish view could be the "soft spot" in the economy and that "soft spot" could be happening right now, and if "energy" backs off a little and inflation continues to look contained, than this could be a little more fuel to ignite a rally (remember the street will be one step ahead on these issues)...
The SPX still needs to break above 1175ish to confirm this strength...
stockcharts.com[r,a]daclyyay[pb7!b25!b50!b100!b150!b200][vc60][iub14!ua12,26,9!lh14,3!ll14][J6530777,Y]&pref=G
For those interested, took a break-even "stop" on my RUT short and flipped long @590...
Just a small trade, but a good rally could come from this basing formation...
stockcharts.com[g,a]daclyyay[pb7!b25!b50!b100!b150!b200][vc60][iub14!ua12,26,9!lh14,3!ll14][J20270710,Y]&pref=G |
