The week after Thanksgiving is usually not the greatest.
We thought some things were petering out last week so would not be surprised by pullbacks. The SOFTWARE names that have been rallying up quite overbought and could pull back. Watching them SEMIS closely here as a few names that were leading…not leading any more…KLAC is one that comes to mind.
GOLD and GOLD STOCKS should be watched. Support continues to hold but upside has been contained. The GDXJ is back above the 50 day…with the GDX still below.
FINANCIALS continue to get good money flows as pullbacks have been nominal.