Friday Morning Update

The market is now in a zone where, for the last month and a half, it has seen a slowdown in selling and a pickup in buying. Although it is too early to say right now, so far that it looks like that may be happening again. XLF and XLI are the leading sectors, so we are at least seeing some short covering. XLE is again the lagging sector, this time by a large margin. The Nasdaq and Russell 2000 both have good leads. Oil nad gold are down, but treasury yields are up. We could get a bounce today.

I have 3 new highs, and 2 of them are acquisitions. There are no breakouts, and I have nothing on the earnings front.