We are wrapping up the first week of the year. It's been a solid dance floor to swing on as our Bucket 2 positions in the Industrial sector (FDX, MMM) acted well.
Our latest Bucket 2 starters from this week (FXE, SBUX, CROX) are still in the process of packing on the freshman 15 and hopefully will start to play along next week or soon thereafter.
From a technical point of view this market made some significant positive developments this week that those underinvested will have to chase. Bottom line: 1340-1360 may be attainable after all is set and done and the next shortable opportunity arises…we will continue taking it one step at a time.
There is a head and shoulder formation at work in the SPX…not expecting it to work out in a classic fashion but did want to point it out.
