ChartSmarter Friday Game Plan 11/11/16

Markets displayed some serious bifurcation for a second straight session. Rotation continues of out defensive groups like the utilities and staples with the staples and utilities losing 2.6 and 2.4% respectively and flow into financials and industrials as the XLF and XLI rose 3.7% and 2.2%. Curiously capital is bleeding from technology slumped 1.7% Thursday. That action saw the Nasdaq lose .8% while the S&P 500 rose .2% and the Russell 2000 recorded another strong day up 1.6% after Wednesdays 3.1% jump. For the week headed into Friday the Dow is the best performer thus far higher by 5.1%, nearly 1000 handles, as money seems to flood into value names with tech plays feeling the pain. AMZN is DOWN 1.7% this week so far and looking at a potential fifth weekly decline in a row. AAPL is possibly going to decline for a fourth straight week and has lost 1% through Thursday. There has been rhetoric with Trump regarding these two names, but these stocks are not immune from a wave of recent selling at the moment. Peeking on weekly chart of select finnies one has to be very impressed with names like BAC higher by more than 13% this week. It looks like it will be decisively clearing the 18 level on a weekly CLOSING basis, a feat only achieved the week ending 7/17/15 by just a dime in the last 5 years. Weekly trade will only trail the 1.3 BILLION shares that traded hands the week ending 2/12/16. GS is now flirting with the round 200 number and has advanced 14.2% this week. Its progress was halted there almost precisely one year ago the weeks ending 11/6-13/15. Banks are running neck and neck with industrials, and the transports are really rolling along, pun intended. Below is the chart of XPO and how it appeared in this Mondays Game Plan. Today it blasted above a double bottom trigger of 37.73 and hit a pothole at the round 40 figure, most likely temporary.