Checking Sector Charts for a Correction
If you are anticipating a pullback in the market, then follow the money and the consumer staples sector to gauge the degree of any potential corrective move.
One week ago I noted that the Financials Select Sector SPDR (XLF) had been leading the market higher in the month of September, and that its daily price had diverted nearly 10% above its 200-day exponential moving average. A "reflexive" pullback was probable that could likely affect other overextended sectors of the broader market....313 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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