XLE (Oil & Gas ETF) remains my biggest concern. I have spotted the potential for a breakout earlier this week (Click Here)! The new support is around $54. Now that the breakout is there, there isn't so much obstacle until the low 60's ! And I really doubt the broad market can start going down until XLE runs into trouble. As I said before, XLE is the key to this Bear market rally,it is the heaviest sector in the S&P. It is the "only" sector that could give enough "fuel" to propel the S&P 500 around the 1125 level :(Click Here) .
