Profunds index and sector trading

[Ek]

concur..i have maintained now for some time, that the iraq elections are the "cloud" that needs to clear before a bust-out move can start. otoh, traders are likely to front run it, as it seems they are doing now.

also, we are short term overbought, and hitting resistance at 117.50 on the SPYs. a clear break above that, on the close, on decent volume, is needed to gain some confidence in the up move, imho.

ek