Big institutions representing the big money came back from the holidays and are buying en masse with the NASDAQ again leading the way. Never argue with the big money. Strength remains in commodities, oils, housing with many semiconductor names waking up from weeks of dormancy.
Big gap to the upside. Led by tech and all that stuff as we enter earnings. Only things soft this morning are commodities, transports but minor pullbacks. All this is happening right before and into earnings. More later… and I hear bitcoin squashed but that can change by the end of the day.
In no particular order: The dollar is breaking to new lows. The euro and pound are breaking to near yearly highs…out of clean bases. We suspect this is part of why commodities keep moving higher. Major indices are stretched, extended and overbought as much as we have seen in a long, long time. Names like […]