Today’s Pomo was piddling and it was Friday so I wasn’t expecting much mojo. Nevertheless we did see some interesting catch up moves in the Rotator including the closing of the GDX /GDX spread noted Wednesday (GLD still has the better technicals) and the continued strength of DBC relative to XLB, a reversal of the morning’s opening  pattern. Of some surprise was IWM’s pop today relative to SPY and the Qs, both of which closed in the red. IWM has been lagging badly lately (note the short interest ratio) and still has some base building to complete a trend pattern. IWM looks bullish on the daily chart but downright scary bearish on weekly and monthly bars. Caveat emptor.
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