Markets sold off in the PM as oil upticked and the $$$$ downticked- and if you can predict the moves in the $$$$ you can call the move in equities as the two are linked for now.

Note also the big sell off in GS which went from +7 to flat on a sell call (estimate reductions) from the nice folks at Ladenburg Thalmann-

XLE finished the day flat while CRUDE closes at $114.5 and gold - about $830- and note the strength in the RUT which finished with a gain of more than 2.25%- I guess domestic business vs. overseas and a lower euro.

Strong sectors include retail, gaming, internets, banks, reits, telecom and homies while metals, ags, steel, emerging markets and oil service lagged.

Market internals closed will with 1,900 net winners between the NYSE/NAZ;

RSI (2) levels a bit stretched at/near 80 on most major indexes with the RUT/NDZ at /near 90;

Seems to be for now a go with the $$$$ trade-


Post a Comment

Subscribe to Post Comments [Atom]

<< Home