Double Tops Everywhere

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TFC Commodity Trading Forum

Many market components as measured by Sector ETFs are seeing at least 6 Sectors at double tops. The DOW Industrials, the Retail ETF:XRT, the Consumer Discretionary ETF:XLY, the Technology ETF:XLK, the Consumer Staples ETF:XLP, and the Health Care ETF:XLV are all back to their July highs double tops. Important point for everything here. It's either selloff time as most internal indicators are also very overbought and have rallied on weak volume, or breakout to the moon time where rising prices extend. Definitely a time to pay very close attention. Meanwhile "Resistance is Resistance." And historically February has never been a postive month for the broad market.

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