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Friday, December 16, 2011

Friday Morning Update

We are getting another nice little rally today, and so far it shows no signs of fizzling out like yesterday's. We have already passed yesterday's high, and could be set for a test of roughly 1240. 3 sectors are leading today: XLB, XLF, and XLI. Lagging are XLP, XLU, and XLV. Both the Nasdaq and Russell 2000 have pretty big leads. Oil and gold are up, but treasury yields are down. Hmmmm.

I have 65 new highs so far, but few breakouts: SWHC, CZNC, HEI, and TISI are all borderline breakouts. I saw nothing of interest on the earnings front.

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