DBD Strategy Daily - US ENERGY SECTOR NOT YET A MEDIUM TERM LEADER
The S&P 500 is testing a resistance area at 2675. It is tempting to expect a short-term improvement if the level is passed. Yet, when we look at various sector patterns and relative strengths, such as Financials and Energy, the most probable is that the consolidation of the S&P 500 is not over. It could last for another month or two. The short-term rotation out of Financials into Energy should be interrupted soon, for a few weeks. When that ratio will trigger a medium-term signal, we will have a strong indication that the S&P 500 is reversing its long bullish trend.
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