Morgan Stanley identifies next wave of AI-linked "alpha"
Another red day and another day where PowerShares QQQ (NASDAQ:QQQ) and Financial Select Sector SPDR Fund (ARCA:XLF) were the weak sisters relative to other VEGA components….a bearish indicator. SPDR Energy Select Sector Fund (ARCA:XLE) and SPDR Select Sector - Utilities (XLU) were the VEGA leaders….and while XLU often operates in a momentum contrary to SPDR S&P 500 (ARCA:SPY), SPDR Energy Select Sector Fund (ARCA:XLE) is a bit of a surprise, but the Crimea situation may still be stimulating uncertainty in the petro markets.
Bonds in the form of TLT 20 year treasuries are currently uber overbought as a safety net so the action of the next couple days will be critical in determining whether we’ll see a reversal to the upside or a continued slide.
Tomorrow’s TRENDX prognosis looks bearish unless some particularly positive overnight news puts the markets in a better mood.
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