Conclusion, Investment Implications, Strategy

We exited open long ideas in SPDR S&P Capital Markets ETF (KCE), SPDR S&P Software & Services ETF (XSW), and iShares Russell 2000 ETF (IWM) this morning as our protective stop (Valid Above) areas were violated.  The details of each of these exits along with their outright and relative performance versus the S&P 500 are detailed below.