Stocks are up today along with other major market indexes. We switched out of VMW for an 8% gain into TECL (Technology ETF X3). This triple leveraged tech ETF has a better setup and more short-term upside than VMW. In the meantime, the dollar setup in (UUP) is breaking down, and, as we know, the stock market moves inversely to the dollar (as of late). Also, the IWM (Russell 2000) is a good indicator of broad-based market strength and risk appetite. If small caps get going, the rest of the market should be catching bids. So, we are still waiting on a pullback. We might get it if the dollar bounces off of the 100 tomorrow, ( it is approaching it now) and if the IWM fails at resistance (which it is currently approaching as well). We will begin sending out alerts as soon as the opportunity presents itself. Technology ETF below:
Above all moving averages. No resistance until 60.
