As we move along through the trading day, one thing has happened that really matters - the US Dollar has trended lower, and everything priced in Dollars has REFLATED.
XLB (Basic Materials) and XLE (Energy) are the top 2 performing sectors out of the 9 we monitor in our Sector Views risk management system. A close above 944 in the SP500 looks imminent and higher-highs are bullish. Away from being long REFLATION, being long short interest may be your next best bet. Squeezy is hungry.
My immediate term TRADE resistance line for the SP500 is now 960.
Keith R. McCullough
Chief Executive Officer