Day Summary

Now since 1400-1405 has been breached on s&p I think we may look ahead for this rally to continue some more. I am planning to take some position in XLF next week on a pull back. Energy sector seemd like had a big sell off yesterday but everything bounced right back today, I would like to see XLE to consolidate at this level and hold its brkout point if not then we may be headed towards a false upside breakout in energy sector. Tech is clearly showing strength and transportation index is also cruising ahead.