Commentary and Performance

Today’s positive economic data out of the USA and Europe combined with central banks’ global coordination to “stimulate” their economies gave stocks another boost. The SP-500 closed @ 2017.15 (+22.64 / +1.10%) and the Nasdaq-100 settled @ 4624.09 (+120.87 / +2.68%). Small caps continue to struggle with clearing key resistance levels despite their positive performance. The Russell-2000 finished the [email protected] 1166.08 (+11.54 / +1.00%). The Dow Jones averages delivered the following results: The DJ-30 Industrials @ 17646.70 (+157.54 / +0.90%); DJ-20 Transports @ 8295.58 (+56.65 / +0.69%); and DJ-15 Utilities @ 594.41 (-10.95 / -1.81%).

The VIX even participated in today’s market rally. If you don’t believe it, call Ripley’s. It closed @ 14.46 (+0.01 / +0.07%).

Perhaps the bond market, about the only honest asset class amongst a den of thieves, is giving the strength of the economy and the Fed some credit. Treasury rates reversed a two day decline with the 10-Yr @ 20.83 (+0.58 / +2.86%) and the 30-Yr @ 28.96 (+0.36 / +1.26%).

The US Dollar Index closed @ 97.04 (+0.59 / +0.61%). The dollar has established a new uptrend, but some price consolidation may be needed to sustain its rally. Don’t go chasing…

Gold has been down four out of the last five trading sessions. Today it closed @ 1162.80 (-3.10 / -0.27%). WTI Crude Oil has also been down four out of five days. Today it broke below its 22-day moving average to close @ 44.60 (-0.89 / -1.96%).

The Dow Jones Real Estate Index may be initiating a consolidation phase as it closed @ 297.32 (-2.80 / -0.93%). The Dow Jones Home Construction Index is testing resistance and has the potential to initiate a new short-term uptrend @ 596.00 (+4.40 / +0.74%).