Market Update

Looking at a daily chart of SPY, it's definitely had a nice run. It can certainly continue this current path, but some caution should be warranted due to it's divergence with the RSI indicator. This is not a guarantee that the market will drop, but moving up stops is not a bad idea. Another buying opportunity will surely come up again, perhaps when the RSI tests the 50 level.

If this plays out and the markets dribble lower, then take a look at the two sectors below (XLRE and XLU). Both of these sectors have some clear resistance (marked in orange). These are not high fliers but a place to put some capital while the overall market resets. Digging deeper within these sectors could yield some more specific stock plays and a better return.