You’re seeing an early bid to defensive names; Utilities (XLU), AWK, & MCD in a chase for yield.

AXP & AIG are being bought off relative strength indicator, meaning these Financials have neutral RSI’s while many momentum names have already had big moves and are trading overbought as evidenced by higher openings being sold by the Algo’s

This is a sign that traders are getting defensive before next week FOMC and

European Holidays when volumes are very low and price movement can get exaggerated.

Oil is acting weak although the stock rotation could keep the indices from doing much of anything. We’ve seen this movie before when the oil breaks and sector rotation keeps the indices from going anywhere.

I’m not shorting the indices on a Friday with the technical model up!

Time to take a hard look at your portfolio and reevaluate your Risk profile in individual names going into next week.

They all look different.

100+ degree day in Chitown will have me turning off my Computers early before my