Key sectors

Small sampling - of course i would do more if time permitted.

XLF XLE XBI SMH
XLF and XBI testing FebPs; relatively few things still above all pivots, so watching for buys next week. SMH pretty clear professional selling on the last move up. XLE very weak.

XLF
M: Dropping like the others; hasn't taken out 2007 top yet.
W: YR1 rejection
D: Above FebP! 
XLF Sum: Anything still above all pivots as of Friday is on buy watch list - not many of these on the indexes I track.

XLE
M: Undoing gains of January in 2 days. 
W: YR1 near tag and slammed.
D: Opened below FebP, already at S1.
Sum: I was looking at oil shorts and mentioned USO, RSX and XLE. I'm not sure why this is down so drastically with oil stable. Still, seems like we could see a YP test on this. 

3 36 XLE M.png

XBI
M: Still above the 2015 high; interesting to see if that level is defended or not.
W: 1HR2 high and YR1 rejection; may hold 1HR1 as support.
D: Testing FebP - another buy candidate. 

3 37 XBI M.png

SMH
M: Divergence high on monthly Bollinger band.
W: Divergence on weekly Bollinger band and glaringly so on RSI.
D: Well under FebP. 

3 40 SMH M.png
3 41 SMH W.png