A week ago Friday, it looked like the world was ending. Right now, people are convinced everything is going to be peachy until the end of time. All the worries are gone, so markets have roared higher.

My view is that the retracement I was hoping for has fully transpired, and as just one example, the emerging markets have almost perfectly sealed their gap (and their fate).

The sinewave still rules the roost on this one.

More By This Author: