S&P is still below Tuesday’s highs but negated most of the importance of Wednesday’s pressure. A close above the 1250-1255 level is a big win. Take note of some changing of the guard. Oil Service Holdrs ETF (OIH) and SPDR Industrial ETF (XLI) already engulfed the Wednesday down move (relative strength). Retail HOLDRs ETF (RTH) still plays a leadership role in the market. Transports ETF…
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