Commentary:

Most market sectors are overbought but current trends are up. Until financials start outperforming over the one year time period, or I have a decent profit, or something else changes my thought process I will remain in them.

Rankings and Ratings:

Rank-Sector-Rating
#1-Financials-Outperform
#2-Materials-Outperform
#3-Industrials-Outperform
#4-Energy-Perform In Line

Commentary:

Most market sectors are overbought but current trends are mainly up. Until financials start outperforming over the one year time period, or I have a decent profit, or something else changes my thought process I will remain in them.

Rankings and Ratings:

Rank-Sector-Rating
#1-Financials-Outperform
#2-Materials-Outperform
#3-Industrials-Outperform

•Stocks bounced between gains and losses early in today's session but by the close the major indexes rose at least 1.4% each.
•SP 500 $SPX $SPY support/resistance moved up from 1,130 to 1,154 and 1,150 to 1,165.
•Support/resistance on the Nasdaq Composite $COMPX $QQQ rose to 2,483 from 2,470 and 2,536 from 2,483.
•Semiconductor Index $SOX $SMH lagged down 0.1%.

•Stocks declined heavy again with major indexes down at least 3.2% each today.
•SP 500 $SPX $SPY support/resistance moved down from 1,165 to 1,128 and 1,173 to 1,150.
•Nasdaq Composite $COMPX $QQQ support moved lower from 2,531 to 2,381 and resistance moved lower from 2,549 to 2,468.
•SP 500 and Nasdaq Composite are now both below their moving averages (21, 50, 200).