Faux Real $DIA $SPY $QQQ $IWM

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Let’s just say that when the closing bell rang, it seemed more like the patient going flat line after being in a coma for most of the day. A good coma, true and somewhat unexpected after last week’s action. However, until we get through the 2-day Fed meeting starting Tuesday, expect more of the same.

Interesting that rates rose along with pretty much every sector and group. Real Estate underperformed for a change as did Oil and Gas Exploration and Biotechnology. The big winner Oil Services with US Oil Fund and Energy second place. Like to see the other groups join in like Semiconductors, and Retail-especially retail as a great barometer of consumer sentiment.

Tesla closed unchanged while Twitter got downgraded. Facebook tested 2013 highs but did not clear. Today was EBAY’s turn to shine-that closed right below a major moving average.

S&P 500 (SPY) Did not clear the 10 DMA which means that how “real” today’s rally is or how long it can sustain remains in question

Russell 2000 (IWM) Did clear the fast moving average but not the 111.55 area of resistance. But one could say at least it tried.

Dow (DIA) A gap up helped but again, marginal on whether today is the real thing

Nasdaq (QQQ) Don’t really like the way this candle looks closing inside the range from Friday. Definitely needs to prove itself

XLF (Financials) From an accumulation day came some follow through with another decent day of volume. Needs another push over 21.30

SMH (Semiconductors) 41.50 has to clear to give confidence

XRT (Retail) 86.50 has to clear here or still vulnerable

IYT (Transportation) 128 pivotal and it closed just shy of that number

IBB (Biotechnology) Holding 213 where the run started from-now support to hold

IYR (Real Estate) Inside day and on critical support.

XHB (Homebuilders) If this holds 31.00 worth watching

GLD Range 122-118

USO (US Oil Fund) 34.50 important support with 35.25 resistance to clear

OIH (Oil Services) The winner on percentage gain-now let’s see 47.80 clear before we look at this as a one day wonder

EWW (Mexico) Unconfirmed phase change to accumulation. Like this country ETF

EWG (Germany) Couldn’t make it to where it needed to go to negate the island top

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