Two of the nine sector SPDRs hit new 52-week highs today (March 9th) - and I bet you can figure out which ones. The image below comes from the pre-defined technical alerts page. Notice that we had three bullish alerts (green) and three bearish (red). The Consumer Staples SPDR (XLP) and the Utilities SPDR (XLU) hit new highs, and the Dow Industrials crossed 17000. XLP and XLU clearly show the most "chart" strength of the nine sectors SPDRs because they are the only ones at 52-week highs. On the downside, the Euro crossed below 110, the Nasdaq crossed below 4700 and the Consumer Discretionary Bullish Percent Index moved below 70. These are not necessarily key support levels, but the downside crosses indicate downward movement in these three.
****************************************
Thanks for tuning in and have a good day!
--Arthur Hill CMT
Plan your Trade and Trade your Plan
*****************************************
