Stocks rallied to new short-term highs against bonds
|Confirming Evidence of a continued rally:
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The ECRI Weekly Leading Index (WLI) picked up again last week and continues to rebound. It is now positive year over year.
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Stocks rallied to new short-term highs against bonds.
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US stocks are in a positive trend relative to Gold (intermediate).
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The Yen and the Dollar weakened last week.
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The VIX made a short-term low.
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Transports broke above resistance.
Non-Confirming evidence of a continued rally:
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The ECRI four week average is still negative year over year.
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The Total World Stock Market remains in a negative trend relative to bonds(intermediate).
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Lumber has been weak and is continuing to drop significantly.
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Small Caps are below their December low relative to Large Caps.
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Copper failed to break to new short-term highs.
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Treasury yields remain in a strong negative trend.
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The Dollar remains in a positive trend.
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Quality remains a strong factor.
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