The XHB exhibit is exhibiting very bullish form, and today's action shows that the price structure is flirting with breaking above 3-month resistance.

Trading early in the day expanded the "inside triangle" in the Q's (QQQQ) towards a test of yesterday's high.

Mike Paulenoff's technical work points still higher in the S&P 500 Depository Receipts (SPY) before the recovery upleg runs its initial course on the upside.

Mike Paulenoff senses that the XHB has just started another rally that will hurdle Friday's high on the way to the 22.00-23.00 (next) target zone.

Mike Paulenoff's work on the Market Vectors Gold ETF (GDX) suggests strongly that the price structure is peaking and could roll over at just about any time in the upcoming two weeks.

Mike Paulenoff's work is warning him that 3 session climbs in spot gold will turn out to be a trap and part of a near-term topping process prior to another bout of corrective weakness.

The standout sectors today have been Retail, REITs, Financials, and Homebuilders -- interest rate sensitive sectors that figure to benefit in a significant way from the Fed's intension to fight for growth, not against inflation.

Mike Paulenoff's momentum work indicates that the streetTRACKS Gold Shares (GLD) still has unfinished business to the downside prior to the completion of the correction that started at the January 15 high of 90.34.

Mike Paulenoff takes a closer look at the near-term chart structure of GLD and finds it is in the midst of an initial correction of its advance off of the December breakout point.

Mike Paulenoff's work is telling him to remain long the XLU unless it breaks below the January 4 pivot low.