So much for 1180 being the top. Today's rally is being attributed to the G20 meeting this weekend, in which, according to Market Watch, the world's leaders " strive to endeavor to avoid a currency war". Now that is decisive. What it probably translates into is " we can't out print Bernanke, so we'll stop trying". In any case, the dollar took a dive this morning, and the market responded. My next target here is 1200, and I'm done with top calling for a while. .Leading up at light speed is XLB, powered by every freaking commodity priced in dollars, followed at a distance by XLY and XLE. Lagging are XLU and XLF. Oil and gold are both doing moonshots, but treasury yields are down big, and the VIX is up. Hmmmm, things might get interesting here.
I have 371 new highs today, with breakouts in SOHU (remember them?), ARTW, LPSB, ARIA, PWAV, SVVS, and SINA all on page 1. I will check the other 18 pages later. I have 5 stocks from the earnings list scheduled to report this morning, but only one actually has, that is CKSW, up 3.4%. I will probably have a revised schedule sometime today.
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