This is a chart of the XLY a sector ETF

I am posting this as just a typical view of what most charts look like coming into today. I am doing this because we are having another large upmove in the night session in the futures markets so the question is do we have another huge up move from here? What is very disturbing about this chart is evident where I have the red arrow on the bottom pane. A cross downward in momentum on Friday's up bar is not what we want to see to support this breakout. When I observe this across so many different sectors it tells me that this breakout on a short term basis is probably not going to stick.

Make no mistake, this is not a big picture sell the farm type of situation, but it is a caution flag for the next few days. I have to admit I did not expect to see this. I was scrolling looking for a list of longs to play today when I came across so many sector charts that all looked like this. The one that did not was the EWJ which was much weaker.

We have across the board strength in most markets from Grains to Metals to Currencies etc.. so this should be interesting today to see if intraday we get any reversal plays.