Many cross-currents inwards the markets lately: yields on 10-year Treasury notes proceed to turn down (top chart) inwards the wake of continued Fed ease. That has given the greenish lite for USD selling together with potent performances today inwards the euro together with Aussie dollar; it has also supported the commodities, with gilded registering withal roughly other fresh high.
All of that is supportive of stock prices, together with the ES futures are knocking at the door of their recent bull highs. Still, pocket-size cap issues lag together with fiscal stocks (bottom chart) are notably weak. GS, for example, has been making 24-hour interval over 24-hour interval lows with consistency. Today nosotros come across fewer than M stocks making fresh 20-day highs across the NYSE, NASDAQ, together with ASE so far. With such a narrow base of operations to stock forcefulness together with glaring weakness with banking issues, it's hard to transcend away besides excited close today's strength, inwards spite of the supportive macro picture.
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