Market ratchets higher off the February 25th test

Sector Rotation Strategy: 

The February 25th low pivot point remains in play this week. The chart below shows the leadership from XLY accelerating to lead the move. XLB playing catch-up after some selling the last two weeks. , XLF regaining some leadership poise. XLU still accelerating higher XLK played into the leadership move on Tuesday. Looking for the upside to regain momentum if the uptrend is to hold short term.

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December 28th Pivot Point for uptrend following the Fiscal Cliff pullback test. Watch the bounce of the newly minted low on 2/25. The index moved above the previous high in February erasing the downside move. See chart above for the leadership on this move.

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November 15th Pivot Point for current uptrend. Target 1550-1575. The uptrend off the November low remains in play. The trend has now overcome two attempted moves lower.

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Tracking Sectors of Interest:

Healthcare

Financials

Technology

Consumer Staples

Consumer Discretionary