MORNING MADNESS

The NAZ and tech continues to trade higher as they dwarf the increases in the SPY/DIA/IWM triumverate. Some resistance may kick in on the QQQQ at the 37.2 level; also be aware that the NAZ internals opened the day with over 1,400 more winners than losers but has shrunk as the market has rallied to only 900 more winners.

I daytraded some DIA on the dip back to the pivot but have since sold and now am looking for a short QQQQ entry

The XLE, the integrated oil ETF is giving some ominous signs that Oil may trade lower before it hits the often talked about $100 price target. There are negative divergences on MACD Histogram and on stochastics so just a heads up to the oil longs.