Observant Slopers may have noticed I made this remark a little earlier.
What was I talkin about? THIS:
I got out of my XLU calls yesterday (thank you Jesus………) and it plunged below the red line of support today. What I was watching with great interest was the bounce-back. So far, it has respected it as resistance.
We may well find that XLU is our canary in the coal mine these days!
The jury is still very much out on what’s going to happen today, but with the /NQ up double digits (having been down triple digits), it’s a true pisser thus far.
