Persistent as those freakin’ Kansas City Royals!

Travel version report:

Yes…our Mets lost but hats off to a persistent Royals. The Mets did hand them a few but they still had to pitch and hit.

Just like the Royals, markets are now a persistent beast to the upside. Every day the lagging areas have a great day, it is a great day for the overall market. Yesterday, it was the small caps, the mid caps, the Oils and everything that has been lagging. The good news is these areas are moving above some resistance here. If the move sticks, good for markets as the large and mega-cap areas continue to perform.

Near the lows, we outlined the potential for a 1998 double bottom-type move. We were quite skeptical of it as the market, though we thought a good low had been put in, had too much work to repair. Repair it has done as the easy money trade continues. Notice China lowered again, Europe extended again and teased an addition and of course, regardless of the teasing here, have you seen any rate hike?

As you know, we never argue with the market. It continues to have a heck of a recovery.