If you were to wake up from a coma and didn’t know what was going in the economy and ask this question….from a “PRICE ACTION” standpoint, what markets are AT or NEAR highs for the year or multi-year highs…. What would the list look like?
The list would include the following….S&P 500, NDX 100, Dow, Many Emerging & Smaller countries Markets, EAFE, Gold, Silver, Copper (other metals as well), Grains, Government bond prices, High Yield mutual funds, just to name a few.
So from a “PRICE ACTION” standpoint….WHERE IS THE BEEF???
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High yields continue to reflect positive price action. If this price action is a reflection on stocks, they are suggesting that stocks will break resistance.