Commentary

1/27/21 Current Signals xCC/x2

The negative CO action this morning is a bit negative for overall OC profit chances today but not too bad. VGT was dropped from the sector ETFs as it seemed overly similar to XLK.

XLI is in a little worse shape than DIA which is the weakest of the broad based index ETFs. It looks like XLI will open at the thin blue horizontal line or the open price of the week of 11/13. This could be the formation of a very rare Island top if it gaps down to the next level in the near future. That’s not unusual late Jan /early Feb behavior seen over the last few years. On the other hand, that is not likely to happen today.

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