When defensive stocks lead the wider stock market higher, while energy stocks sink you know the engine of the major indexes are running on borrowed time, soon the hope will fade.
Walmart screams higher out of a base. You can clearly see WMT and XLP step up to higher prices. This is sector rotation out of SPDR sectors like XLE and XLB which are currently sinking.
Plus the SP500 stocks over 200 SMA is showing deep trouble within the SP500. One is wrong, the leading index or the percentage of stocks over 200 SMA oscillator.
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Investing Quote...
"The Tape Reader's profits should develop naturally. He should buy or sell because it is the thing to do - not because he wants to make a profit or fears to make a loss." ~ Richard D. Wyckoff
"The key to making money in stocks is not to get scared out of them." ~ Peter Lynch
