Please enable javascript in your browser to view this site!

Recouping losses a mild positve, but Financials weakness a concern

Indices showing moderate gains this am.. US recouping losses from yesterday, Europe pressing higher while Emerging markets continuing to make huge headway to the upside while HSCEI presses up to new multi-month highs-  Much of this emerging mkt strength is due to US Dollar decline of late but DXY along with TNX are now at levels where reversals of trend are near and expect that further Dollar weakness should prove unlikely, Technically and stabilization/upturn should lead to Emerging mkts stalling out-   S&P has not completely erased all of its negatives this am, and a move back OVER 2376.75 necessary to expect higher prices, while over 2380 would allow rally back to 2400-  For this am.. we'll need to see a bit more before thinking this few-day decline has run its course, and Financials in particular still look weak in the short-run after recent breakdown- For now, pays to be patient and let price be the guide as to whether this minor pullback has run its course.   Early gainers in PTIE, HTBX, FCX, GNMX and on downside- GEL, GIS-  Let me know if you have any questions