Further to my post of March 9th, and as can be seen on the two Daily charts below, the Financials ETF (XLF) outperformed the SPX and the U.S. $ on Tuesday. With Tuesday's volume spike, the recent bullish Golden Cross of the 50 sma above the 200 sma, and a potential reversal of negative divergences on the RSI, MACD, and Stochastics indicators, these two charts are worth watching over the next days/weeks to come to see whether the Financials sector maintains its leadership over these two instruments.
Real estate ETFs are just about the only area recently whose bullishness I actually buy – – DRN, URE, and IYR are all super-looking charts. My largest long (by far), IYR, is poised for a breakout. In an era where it seems impossible to get the market to fall for more than one day (witness last Tuesday – sigh) one has to drum up charts that are not only bullish, but plausibly so.
As I type this, it's 45 minutes to showtime. Good luck, everybody.
Some facts on Moscow according to Wikipedia:
- Moscow ( /ˈmɒskaʊ/ or /ˈmɒskoʊ/; Russian: Москва́, tr. Moskva; IPA: [mɐˈskva] ( listen)) is the capital, the most populous city, and the most populous federal subject of Russia. The city is a major political, economic, cultural, scientific, religious, financial, educational, and transportation center of Russia and the continent. Moscow is the northernmost megacity on Earth (but not the coldest), the most populous city in Europe, and the fifth largest city proper in the world. Its population, according to the results of the 2010 Census, is 11,503,501. Based on Forbes 2011, Moscow had 79 billionaires, displacing New York City as the city with the greatest number of billionaires.
- In January 1905, the institution of the City Governor, or Mayor, was officially introduced in Moscow, and Alexander Adrianov became Moscow’s first official mayor. Following the Russian Revolution of 1917, on 12 March 1918 Moscow became the capital of the Russian Soviet Federative Socialist Republic and of the Soviet Union less than five years later. During World War II (the period from June 22, 1941, to May 9, 1945 known in Russia as the Great Patriotic War), after the German invasion of the USSR, the Soviet State Defense Committee and the General Staff of the Red Army was located in Moscow.