The Short-Term
Could the US Dollar have a serious break down? What will happen in the stock market if it happens?
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Stocks had a very nice recovery today. The post French election break out is holding well after testing the 50-day yesterday.
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The NYSE new 52-week lows were at a much safer level today than yesterday. The Nasdaq was still a bit elevated though.
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Here is a broader look at the market. A couple more days like today, and I think it would signal either a new medium-term up-trend or that the medium-term up-trend that started with the election hasn't ended yet.
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No time to review Commodities, Currencies or Sentiment today. So I am hoping to get to it tomorrow.
The Leader List
I had to add another filter to this list to keep the number of out-performing ETFs to less than a dozen.
Europe and EFA are on fire. They are performing really well. Pharmaceuticals are just beginning to break out of a large base.
South Korea, Materials, Utilities, Mid Caps were very strong today. Biotech and Oil Exploration were weak.
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This is a nice looking chart, although I would like to see better relative performance.
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Disclaimer: I am not a registered investment advisor. My comments above reflect my view of the market, ...
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It is not the election as much as it's the fact that the Federal Reserve continues to play Santa Even though it's Fall. In the meantime, Washington faced with disgruntled people is looking to run even more massive deficits. All I can say is LOL, enjoy it while it lasts because winter always comes and at the rate things are going, Santa won't have any presents and Washington won't be able to even sustain what it is already giving away.