This is the third week in a row that the market has ended the week on a positive note. The RSI portfolio has been also gaining ground.
Yes, I haven’t published this blog in a few days because RSI has been silent. Today I purchased a one-R position in Energy Select Sector SPDR (XLE) to round out the RSI portfolio and deploy the last of the cash reserves. RSI picked XLE last month and now it has apparently completed a dip, so I bought it.
Today RSI picked the following:
At first glance I thought RSI had previously picked these two, but they were other water and financial picks and not these.
IYF has been in a downtrend and tit may be on a path to reverse that trend. It has been underperforming the market and money isn’t flowing into it, so be patient. Any breakout above %54.00 may signal a recovery and an opportunity to buy.
PHO is showing signs of good strength. It has been in a strong uptrend and has completed a dip. It is handily beating the market and money has been flowing in. Now is the time to buy.
Well that’s about it. Have a great weekend and I’ll catch you later.