Wednesday Morning Update

Yesterday's conflagration between the two Koreas, one of the prime catalysts in yesterday's selloff (and ramp in gold), is now ancient history, as the market responds to today's news: only 402k on initial claims for unemployment, about 40k less than expected. Geez, lets have a party. We have a ton of other reports (holiday week and everything) and it's a mixed bag, but it's the unemployment claims and U.of M consumer confidence numbers that seem to be driving the market today. The leading sectors are XLK and XLB, XLU and XLF are the laggards. The Nasdaq and Russell 2000 are both leading big,  Oil is up, gold down, treasury yields rising after a gap up. I will be watching the EUR/USD pair today, and right now the EUR is rising.

I have 168 new highs today, with high volume breakouts in TISA, URG, URRE, PAM, and AMZN. I have nothing on either watchlist scheduled to report for the rest of this week.