When A Bomb Is Going Off, You Forget You're Acting

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Quote: Charlie Sheen

3 out of the 4 indices posted an inside day on this mainly noisy Tuesday. The Russell’s, S&P 500, and the Dow all held Monday’s lows nor penetrated Monday’s highs. NASDAQ ticked 2 cents under Monday’s low but held it by the end of the day.

Furthermore, the indices were choppy. The new star, Retail, had a great day, even taking out and closing above the 50 DMA for an unconfirmed bullish phase. But no sector surpassed Uranium, which ran up over 7%. Considering its main use is for Nuclear Reactors, kinda makes you wonder.

Assuming nobody plans to blow up the world anytime soon, after a significant pause day and all indices in bullish phases with SPY and the leader NASDAQ near the highs, Wednesday’s range break could be the fuel up or down to ignite volatility. At the very least, clarify next bigger direction.

S&P 500 (SPY) We shall see what Wednesday brings

Russell 2000 (IWM) 117.37 2014 high. Looking here market seems to say higher.

Dow (DIA) If this fills the gap and holds above 162.79, hard to argue with

Nasdaq (QQQ) Looks good-like a leader should

XLF (Financials) Back to an unconfirmed warning phase-trying to make up its mind

SMH (Semiconductors) 43.00, the support held

IYT (Transportation) Held the 50 DMA which has to continue to hold

IBB (Biotechnology) Tora, Tora, Tora!

XRT (Retail) Now it’s in an unconfirmed bullish phase

IYR (Real Estate) Inside day

XHB (Homebuilders) 33.38 is the 2014 high-so close

GLD Hard to sit with if you’re first getting in up here but does look strong

USO (US Oil Fund) Hasn’t been over 37.50 since October 2013-finding that area resistance now-but still holding up ok

OIH (Oil Services) Based on the push up by the close, still looks good

XLE (Energy) 88.54 the 2014 high-inside day today

XOP (Oil and Gas Exploration) Overbought with an inside day

TBT (Ultrashort Lehman 20+ Year Treasuries) 70.37 big number to defend

EWG (Germany) 31.93 the 2013 high-Inside day

FCG (First Trust ISE Reserve NatGas) Over 20.50 could be the start of a breakout from a humongous base

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