Market at Support (1-30-2014)

Most major sectors are at support. Momentum, Put/Call ratio, VIX indicate that market is at support. Break down from this level will bring more concerns of the uptrend.

But if market indeed rebounds from here, we have to see how high it can reach. Since 2012, when market starts to bounce, there were no big pull backs on the way. Market went straight up without pause which left many people on the station. Let's see what it does this time.

Rebound target is 1825 on S&P. If it fails there, another leg down might be on the way. If it makes new high, this uptrend is very much intact.

 

XLY Consumer Discretionary Select Sector SPDR Fund

 

XLP Consumer Staples Select Sector SPDR ETF
 

 

XLE Energy Select Sector SPDR ETF

 

XLF Financial Select Sector SPDR ETF

 

 

XLV Health Care Select Sector SPDR ETF

 

XLI Industrial Select Sector SPDR ETF

 

XLB Materials Select Sector SPDR ETF

 

XLK Technology Select Sector SPDR ETF

 

XLU Utilities Select Sector SPDR ETF