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ETF Market Update for January 6, 2010

ETF Market Technical Analysis

Happy New Year!  Equities rallied on Monday but have looked limp since.  Oil and Gold have both rallied and the dollar has given back some gains.  Both SPY and IWM are at the top of their Keltner Channels without the Aroon signalling a BUY.  on Tuesday we opened a position on XLB, the Materials ETF, and are up 2% on the position.  We will be watching Friday carefully as the jobs report is released which could be a market mover for stocks.

Link to Video Blog below:

Sea Lion Capital Management LLC

Disclosure: Long XLB, Long SH