The Road To Easy Street Goes Through The Sewer- John Madden
In the world of Sport’s Championships for 2015, LeBron James, considered one of the best basketball players ever, could not take his team all the way. Unfortunately for the Cleveland Cavaliers, James’ key teammate, Kevin Love, suffered a dislocated shoulder forcing him out of the series.
Adding to the team’s woes, Kyrie Irving fractured his left knee, which ended his participation as well. So, as amazing as LeBron is, a whole team doth not one player make.
The market and the Modern Family have suffered similar setbacks this year. The GranddadRussell 2000, which made new 2015 highs on Thursday, has had solid help from the prodigal son Regional Banks.
To add sparkle, occasionally, the bullish crowd has cheered for the amazing moves made by Big Bro Biotechnology (Lots of 3-point shots scored on Thursday).
Ultimately though, in order to win the Championship ring (break above the 2015 highs), the market needs the WHOLE family to show up, uninjured and with their “A” game on.
Key Players Besides our Superstars?
Grandma Retail has to hold over 100.00 at the very least. Semiconductors over 58.47 would be a huge help.
In the NBA, this 2015 series was the most watched since Michael Jordan’s last season in 1998. Transportation, if closes out the week over 152, should ensure that next week, like the 2015 NBA Finals, the Market might become the most watched (and traded) since 2013.
Then There’s Cousin GREK
The thorn in the Bull’s side? Greece is what’s keeping the action flowing for the bookies as the Bears continue to wager that Greece will move in the direction of a Euro exit, thereby preventing the Champagne from flowing for the Bulls.
S&P 500 (SPY) The 2015 high 113.78. Subscribers: Positive Pivots in all
Russell 2000 (IWM) New all-time highs!! We knew you could do it!!
Dow (DIA) Struggling to keep up-must have a shoulder injury. Although, to be fair, back in an unconfirmed bullish phase
Nasdaq (QQQ) 111.16 is the 2015 high
XLF (Financials) Great volume, great moves
KRE (Regional Banks) We kept our tail in hopes it hadn’t topped out-nope!
SMH (Semiconductors) Tech still a bit weak relatively speaking-if this perks could be gauge speculators are back!
IYT (Transportation) Like Granny Retail moves so got to 152. Now needs to close the week above that level
IBB (Biotechnology) From compression you get combustion-New high close
XRT (Retail) Closed over 100-ok Granny-don’t fail us now!
IYR (Real Estate) Right into resistance
XHB (US HomeBuilders) Highest close in 2 months
GLD (Gold Trust) Ok-we are interested-if this gap holds, next hurdle is over the 50 DMA
USO (US Oil Fund) Inside day. Noisy until it clears 21.50 or fails 19.00
TAN (Guggenheim Solar Energy) Inside day Like over 43.00
TLT (iShares 20+ Year Treasuries) So far, holding the 200 week moving average
UUP (Dollar Bull) 24.32 is the 200 DMA
EWY (South Korea) Subscribers: Confirmed the reversal but like to see the gap low hold-