Wednesday, February 4, 2009

02.04.09 - Mid-day Lull

After an early follow-on run higher post-ISM Services, price has tapered off along with participation, as evidenced by the now declining slope of the Advance Decline Line. Cumulative Tick has more or less flattened, which has my guard up.

Nonetheless, today it is the Consumer Staple Sector's (XLP -1.65%) turn to lag, which I consider relatively bullish over yesterday's Financials (XLF)/ Semiconductor softness. When all is said and done, however, this extended down leg from the morning highs needs to find support soon, or they will all fall down.

Never Investment Advice

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