Dan Passarelli, CEO - Market Taker Mentoring

Well, it looks like the market found its way higher yet again a little bit today. That's that expected followthrough through the 50 day moving average that I expected we're just kind of kissing the 400 area, which is a par level, so there could be some psychological resistance there.

So if you did play the run up, great. If you're looking to take short term profits, I wouldn't argue about that, but there's a chance I think this market could head higher.

As far as that goes, though, let's talk specifically about what were some of today's winners. Well, first of all, it was kind of interesting today because we had consumer discretionaries kind of leading the charge here today.

If we look at the XLY. That is the select sector spider trust ETF, it's the consumer discretionary ETF. That one's had really a pretty good 1234567 in a week and a half here of trading really having to follow through that 50 day moving average. Now we kind of juxtapose that against the technology sector. So we got XLK, which is the spider technology ETF here. We kind of have the same paradigm. Now, you don't always see the consumer discretionary stocks and tech stocks moving in the same direction. Consumer discretionary stocks are the ones that are sort of like these very common items, but they are elastic. So they're the ones that people spend discretionary income on. If the economy is doing worse, they'll get hurt a little bit more, whereas the technology companies, they kind of had a little bit of rough go around for the last year, a little bit with interest rates rising because low interest rates are really beneficial to those growth companies and technology is sort of at the head of those growth companies.

I also want to take a look at the healthcare sector. Now that's a similar picture for today. If we were to look at it just as a one day chart, but it's a little bit different if we kind of look back across the past five days or whatever, we're kind of just sort of bumping up against a little bit of resistance here. And yesterday I could argue we're bumping down against a little bit of support. So we could end up seeing a breakout here. But I did want to call attention to it because this ETF was up 1.58% today. It was one of the day's leaders and I think stuff like that is important to look at. So I hope that helps.