Capital Essence’s “ETFs Trading Map” for September 28, 2009: “…Major Sector ETFs: last week we said that: “most the major sector ETFs are currently at their most overbought levels. While these levels do not necessarily mean a decline is imminent, they do indicate that some consolidation is to be expected. So we should expect at least a rotation into the less extended areas like XLU, XLV.” As anticipated, defensive outperformed the broad market in last week trading. Although their short-term trend remains bearish so we do not expect any significant…” Subscribers, please click here to read more.

we continue to play the range, at least for the time being. And as the pattern resolves, we shall adjust accordingly. As usual we must stress out that all bets are off if we lose the 8200 level on the Dow Jones Industrial average

至少就目前而言，大盤將繼續在區間運行。如果形態發生變化，我們應相應地調整我們的判斷。照例我們必須強調，如果道瓊斯工業平均指數失守8200點，所有的看漲判斷將自動失效。

short-term trading pattern on the S&P 500 index exhibited a top formation, which suggested that a meaningful correction could be underway. What this means is that the spring rally seemed to have reached a peak so we should expect at least a test of the 880 level on the S&P 500 index.

標普500指數的短期交易形態發出見頂的信號，意味著可能出現深度回調。換句話說，從3月份開始的這波行情似乎已經見頂，預計標普500指數至少會測試800點的位置。