WEEKEND SECTOR CHARTS

xle - energy / daily

one of quite a few broken trendline retests going into next week. usually some of your best shorting ops. i expect cap and trade news and/or rumors to outweigh the gov data releases this week.. seriously, imo it'll be the bigger market moving juju.





btw i like stocks either way. if the admin has to have it pulled to save face and regroup, stocks win. and if they push it through, the dems are perceived to have blown a foot clean off before the congressional races even start, and imo markets begin to price in beloved gridlock vs the potential for intermediate term profit losses (airhead strategy would eventually fail on its own (like australia and new zealand's), or be harpooned by a newt admin))



xlb - materials / daily


no retest on this one, but looking like a bear flag. speculative regression type channel based on top line pitch








xhb - homebuilders / daily


actually a little more optimistic on this chart. at resistance, but sportin' a pos-d histo on a chart where they seem to play out with good regularity and effect







kce - capital markets / daily


could turn out to be more than a squeeze to the retest. rule # 1, wall street always wins. prospects are good for high frequency trading and anything derivatives






kre - regional banks / daily




nice little recovery, but still looks like it'd be the first sector chart to put in a new all time low






iyr - reits / daily



again, uptrend broken with apparent retest on








xly - consumer discretionary / daily




it once took the summer off back in 03. bout it for encouragement on this one







xlk - tech / daily



a lot of chart damage overcome here, but there's that trendline








tlt - long bond / weekly



equity bulls did not want to see this weekly breakout. but its fact, enough folks were spooked to at least force a squeeze






spy / daily

conclusion:
stocks are a buy, or at least not a sell, until that neckline breaks.