Off the Charts
The S&P (SPY) continues its steady grind higher despite paltry volume. It was a mixed day in the indices as the S&P and Dow finished the day positive while the Nasdaq closed the day in the red as its largest component Apple (AAPL) weighed on the index.
The financials and homebuilders led the charge higher today, which has been a familiar tune over the past several months. The Financial Sector ETF (XLF) broke out to new highs while the Homebuilders ETF (XHB) perked up after several days of corrective action off highs. This remains a very stock selective tape as earnings season comes to an end and there is not much economic data this week to drive the market. Tonight is the State of the Union address, which could influence the market tomorrow....655 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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