The Two Lane Rising Channel Highway

We have an interesting split in the market right now, with premier Nasdaq names like Tesla Motors sporting a clear weekly chart rising wedge breakdown, first below. TSLA's stock has been sluggish for a while now, and buyers may finally be throwing in the towel short-term as upside momentum has been set on fire. Meanwhile, financials are breaking the rising channel to the upside, seen on the XLF weekly chart, second below. Typically, this sis further evidence of a very late-stage bull market. But we know just how resilient the current bull has been. Either way, not much has changed in terms of my overall market posture regarding the need for traders to remain highly selective. And it is not just the large cap, liquid glamours like TSLA--Also note the junior glamours like P TWTR YELP continuing to remain to weak. Elsewhere, keep an eye on CORN WEAT for continued strength, and perhaps even JO for a bottom today.