Please enable javascript in your browser to view this site!

Europes SX5E breaking out while S&P to multi-day high close

Bottom line-  Today is a temporary positive with how the next 2-3 days should line up.  S&P has pushed even higher post Europes close.. Where SX5E has made its own breakout today above an area that's been there since May.  Semis have led all other S&P groups today and SOX with a near-term bullish formation that could lead a bit higher still before any rolling over.   Tech and Financials today showing the most strength , both up more than 1.5%.. While Materials and Energy also up 1-1.5%.. With all 11 sectors showing gains for today-   Breadth is about 4/1 positive which also is a good sign given how subdued everything had been of late.   And USDJPY, TNX are bouncing, while the Metals fall-  Gold lower by 1% today.. , down 15, while Crude has pushed back higher back above 48.  Overall when looking at Europe, at pattern of DJIA, and SOX.. And good breadth today.  All of these suggest that we likely can push up a bit more this week, and that today likely is not a 1 day affair- we'll see the extent to which momentum can lift.. But expecting a bit higher prices given the higher open and move higher throughout the session-

sx5eD.gif