The oil service group had been giving us a ton of clues on direction of this market. It typically leads and it has acted very well. This had been acting very healthy starting way back in September. We put numerous strategies out regarding the Oil Service HOLDRs ETF (OIH), most recently today with a buy area of $160.50-161. Next spot is new highs above $166. I went to tier two today early, and am back to tier one now.
Traders are seeing nice moves in individual oil service names like Apache Corporation (APA), Schlumberger Limited (SLB), Halliburton Company (HAL), Anadarko Petroleum Corporation (APC), Rockwell Automation (ROK), and Baker Hughes Incorporated (BHI). Some are already at new highs. If you watched the action during the correction, that gave you clues to look here first during the rally.
 *DISCLOSURE: Long OIH
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