Bring your dog to work Friday, page-2

XJO up strongly again today +0.96%.



The current five day movement has been very strong. In the past five days we’ve seen three days up >1%.  In recent history that’s unusual.

The MACD Histogram is, however, showing a negative divergence.

The XXJ (Financials) has been the driving force behind this rise.



It’s been up every day for five days in a row.  That’s been an increase of 6.28%

XXJ is now looking at resistance of the 200-Day MA.  That’s the big test.

Indicators are now overbought – so a failure at the 200-Day MA is likely.  What happens after the pull-back is most important.

We haven’t seen a movement like this in XXJ for a long time.  It might mean that the bear market in the banks is over.  But we still need more evidence before the bulls can claim victory.