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The State of the Markets
It appears that we are back into my early cyclicals leading the markets theme. I haven't posted about this recently as we saw the late cyclicals lead early in the year, so that is where I was focused. This is an odd rotation, but one that allows for bullish continuation for quite a while. Let's look at each of the three and see how they shape up. Transports (ETF: XTN) - Coming alive a bit today, but has failed to make a higher high since before the July/August swoon. This area should make a new high fairly soon, probably in about 2 weeks or so. Financials (ETF: XLF) - Leading like mad after the swoon. Looks great, ... (full story)