madness, just madness

Discretionary, retail, housing, financials, small caps, and ultra financials up today. Yet, last night the futures down and in the morning markets down. So what happened? Perhaps window dressing? Perhaps new money for the start of the month? A delayed reaction to the Federal Reserve? Are we experiencing the big boys starting to climb a wall of worry? By the way the the Nasdaq closed above the 5 day moving average. Will this continue? Nasdaq has moved up 200 points in the previous 7 trading days.

ultrashorts

The ultrashorts, gold, and transports moved up today. What about the Fed’s action? What did we experience today? Sell on the news?

Previous five day action

Let’s focus on the previous five day action. Homebuilders, Network, Internet, Financials, Broker Dealers, Reits, Regional Banks, Oil Services, Coal, Airlines, Transports, Metals and Mining, the Hang Seng, the Brazil Index and several Ultra ETFs have done the best. Old leaders or new leaders?

winners this week

What is Going on (WIGO)

The winners for the week-Discretionary, specifically homebuilders. The catalyst possibly the Feds action on Monday. Financials also showed strength, especially Regional Banks and Realty Estate. Will the momentum (momo) continue? Transports also experienced positive flows. Materials- experienced positive flows. Metal and mining up nicely. Tech showed some strength.

The flow seems to have moved out of Healthcare- especially Biotech and Drugs. Utilities also experienced an out flow. Energy-Coal moved like a rocket.

The Russell 2000 experienced the strongest percent increase. The Hang Seng Index lead all the foreign market followed by the Brazil Index.

The Ultra Shorts saw flows later in the week. On the other side of the trade Utra Real Estate and the Ultra Financials showed much strenght. Will the positive flows continue or did the big boys sell into strength?

leaders forming

Tech, oil, gold, metal and mining moved up today lead by disk drives and coal producers. The Nasdaq 100  also moved up. The Hang Seng Index also shows muscle.  Financials and retail pulled back after their big move.