As a follow up to Sunday night’s XLB price for a Lazy Man leader here’ the opening action Monday on 2 minute bars. Don’t be confused by the Prognosticator panel, which is actually tracking GLD (shaded area). Why GLD? Just because I’ve been building a position with more than usualrisk exposure (for me) and I like to monitor the glittering monster closely. Back to XLB . . the 2 minute Lazy Man template clearly shows XLB’s relative strength during the first 60 minutes, confirming our initial 3 day signal. Volatility crept in the mix shortly thereafter although on 5 minute bars XLB still finished the day as the winner. EEM on the other hand continues to weaken while TLT gave the merest hint of a possible bullish reversal.
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