Here's an ominous bearish chart pattern developing. It's the Dollar index, 10 days, 15 minutes, and it's why oil is up and the market is rallying.
Sometimes the Yahoo Finance Homepage can be a surreal experience. Among the bad news, Rio Tinto cutting 14000 jobs, and Office Depot closing stores. The auto bailout, now reduced to $15 billion, is being recieved as good news. Then this item, down near the bottom. AIG needs another $10 billion. They'll get it, and they won't be humiliated on C-Span.
Energy and Basic Materials are again asserting leadership, which you would expect with a falling dollar. Financials, conmsumer staples, and health care are lagging. I have on breakout so fat, MBB. New highs so far are about the same as we have been seeing: LZR, OCN, INT,CSKI, HEV, and DCM. On the earnings sheet, GEF reported this morning and is up about 5%.
Charts courtesy of stockcharts.com