FAZ looks extremely coiled under the 50EMA... Is it ready to snap to the upside? I am not betting on it unless I see a clear move above the 50DEMA... I wonder what catalyst could cause that?
Interestingly, IYT closed negative on a high volume but CSX, BNI, UNP were green!
XLU, XRT, XLV, XLP is where the money is flowing! Energy(XLE) and Technology(XLK) are loosing steam!
$VIX is coiling up as well! Seems like we are going to see an orderly correction without much panic. I think money will come out off the frothy sectors and move into the oversold (underbought rather) sectors slowly.
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