With strong jobs data, we've seen the dollar rally sharply against the euro as well as stocks rally strongly to novel bull highs, led yesteryear the fiscal sector.
Note the inversion of recent themes: hither we're seeing rigid stock prices on the heels of a rigid dollar as well as weak commodities. Note every bit good the continued relative underperformance of the NASDAQ 100 stocks, every bit good every bit commodity-sensitive liberate energy as well as materials shares. Indeed, the novel highs inwards the S&P 500 Index (ES, above) are non confirmed yesteryear several sectors, including XLP, XLV, XLE, XLB, as well as XLK.
I volition endure watching closely to run into if nosotros tin sustain the electrical flow strength--and every bit good to run into if we're seeing the get-go of shifting intermarket themes.
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