| Chart Patterns IYR $UTIL $XBD RKH |
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| Friday, February 17, 2006 |
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Morning Update
The Real Estate ishares (IYR) Update Daily Chart
The IYR is at new all time highs again. This sector has been a front runner. It has front run every broad market rally for the last three years. When it makes new highs we have juice coming into the market. Higher prices ahead.
The Dow Jones Utility Index (UTIL)
The UTIL index is currently in a sideways correction whilst holding its uptrend line as it form an ascending triangle pattern. Nothing has changed. If the utility indexes starting moving up then all indexes will be aligned to move higher much to the pleasure of Dow theorists.
The Broker/Dealer Index (XBD) and The Bank Regional Holders (RKH)
The XBD and The RKH on the monthly chart s are both looking very strong. The XBD has broken out of it's ascending triangle and all indicators are in a full blown bullish trend reversal. The RKH has broken out of its three year slim Jim. Banks are hot. Leadership in these sectors also favor a broader market rally. Bottom line, with these sectors heating up leads me to say that once again that this market is bullish.
IYR
$UTIL
$XBD
RKH
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