Replies to post #21939 on ETF SWING & DAY TRADING

[Walkingshadow]

I usually don't follow the SPX closely, but it seems to me what you've got there is something similar to the INDU. Both the INDU and the SPX are blue chips of course, and have outperformed the tech indexes since the first week of the year:








Now I suspect what we will see is a passing of the baton from the blue chips to the techs, and I think the SOX also is consistent with that scenario; the NDX can move very strongly when the SOX is moving, and when the SOX does not participate, the NDX at best rallies in lukewarm fashion.

....in other words, I think we'll see rotation while the INDU consolidates its gains and probably drifts down to test chart support that I make to be 10,940. If so, that test will be successful.



..... all IMHO, of course....

T