http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p83750808625&a=214966864

Chicken dentistry ranks among the most difficult of the medical arts.  If the chicken is not hard to catch in the first place (being often in a hot sweat panic about the sky) he is, in the second place not possessed of any teeth to pull.  A conundrum not unlike our present market which we have compared to pulling chickens’ teeth.  Each time the SPX threatens to make a definitive new high the chicken hawks knock it down.  BUT … there is a new high for our purposes, made two days ago, preserving the higher highs higher lows pattern.  Of course it would be  a pain in the teeth (ours, not the chickens’) if we had a downwave here but the theoretical niceties are at least in line.  What we are waiting for now is confirmation.

While we wait there are a couple of sector ETFs worth investment:  XLU and XLV.  Utilities and healthcare.

http://stockcharts.com/h-sc/ui?s=XLU&p=D&yr=0&mn=9&dy=0&id=p76416546251&a=338296976

Clear breakout with good base.  What’s not to like?

http://stockcharts.com/h-sc/ui?s=XLV&p=D&yr=0&mn=9&dy=0&id=p82498140119&a=338297337

Being as the healthcare industry has a monopoly and a license to rape pillage and plunder worth looking at.  Always a good bet to back pillage and plunder.  And hope that the brigands reap their just karma in the next world.