Monday Market Wrap- Chart Review

{+++}It was a nice day on Wall Street today.  The SPX popped 1% or about 16 handles. The DOW rallied almost a percent and ended the day back over 15,000. The Stria situation calmed down a bit and now it looks like Putin my save the day. Hollywood couldn’t make is stuff up if they tried.

WLT & STNG triggered today. SAPE came close but didn’t trigger so watch it tomorrow.

DXJ, which has been a position for a while now, broke out of a big wedge today and looks higher.


Biotech IBB broke out through lateral resistance today and is now approaching  the top of that channel again.


The banks improved today but the XLF has to get back above that 5o day moving average.


I like the look of this market again and don’t forget this month is the end of the third quarter, so funds may be starting to lay some long bets early. Nothing like a good bout of performance chasing to get things going.

See you in the morning.

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