XLI has been a critical component of market strength and this weakness is worth noting. XLF has been moving up with XLI and is also in a precarious situation.
This week SPY fell from the Upper Cycle to the middle, and today probably to the lower. Specter/FF5s goes long mechanically if x00 appears Monday afternoon. I’m not tempted to add to positions before that.
xMM from today was also a mechanical buy signal. Ignoring it wasn’t very difficult.
