THE VERY GOOD CLOSE

Just to get it out of the way:

The 40-45% of the market that has not been participating bounced on Thursday. We do not think things changed there. Maybe GM and F turned the corner with the worst being over but that’s about it.

But lots of good out of Thursday’s action. We’ll just report the news.

The S&P broke out of range.

The DOW is close to breaking out of range.

The Industrials (XLI) broke out of range.

The Materials (XLB) broke out of range.

The Consumer Staples (XLP) moved out of range.

The Utilities (XLU) continued out of range.

The NYSE is moving above range.

The Health Care (XLV) is moving out of range.

Foreign markets continue their move out of range.

New highs are again expanding in areas like gaming, cruise lines, hotels, managed care and restaurants.

All this while the world is ending because of Trump!