A very mild down day is just what we like to see after a rip roaring day. Those big swings from day to day are being replaced by surge and hold moves to the long side.
Our all important slow momentum indicator is just rocketing right now. It will be in positive TradeWinds in another day or two barring something crazy happening. Our other momentum indicators are fueling the surge upwards. The fast momentum will probably have to refuel here in a day or so, which means we can expect some consolidation before the next leg up.
We had three sectors/indexes sail into positive TradeWinds today - Big Cap techs (QQQQ), Europe/Far East/Australia (EFA), and Oil Services (OIH). Three also moved from negative to neutral TradeWinds - Utilities (XLU), Network (IGN), and Brazil (EWZ).
Now check out our Top 25 Lists and exciting TradeWinds Black Box results.
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