Short Term Review

The latest Short Term Review has been released to subscribers. This issue includes a sector review, as well as the usual comments on the market, yields, the dollar and commodities. If you are interested in subscribing, please contact us customerservice@wminsights.com.

Here is a portion from that report:

The Information Technology sector has – by far and away – the strongest relative strength pattern among the 10 economic sectors. The sector bottomed in November of last year and the resultant uptrend has been intact in both absolute and relative terms ever since. The price index has retraced more than 61.8% of the 2007-2009 decline and the Stochastic indicator has taken up residence in overbought territory, This, plus regular successful tests of the 10-wma, speaks to the linear nature of the year-long rally. Nearby support is at 348-344; second support is apparent near 332-338. As for resistance, a rally through 361-362 would open the door for a challenge of 376 and beyond.



On a personal note, due to a medical issue in the family, there will be no blog updates through at least Wednesday.