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POSITION: Long Consumer Discretionary (XLY), Long Utilities (XLU)

I said that if the SP500 continues to hold my long-term TAIL line of support (1267) that I’d title my notes Bullish TAIL.

That doesn’t mean that I won’t make sales and/or call out immediate-term TRADE overbought as it appears in my model. It just means I’m sticking with the risk management process that had me make the bullish turn on US Equities in 2009.

Across all 3 risk management durations, here are the lines that matter to me most right here and now: 

  1. Immediate-term TRADE overbought = 1299
  2. Immediate-term TRADE support = 1273
  3. Long-term TAIL support = 1267 

As we pushed higher towards 1299 this morning, I sold my Consumer Staples (XLP) long because that’s the Sector ETF of the 3 I was long coming into today that I like the least. There are no rules against buying it back on red.

Keep moving out there,


Keith R. McCullough
Chief Executive Officer

Bullish TAIL: SP500 Levels, Refreshed - SPX