Price action rules.
It’s been a Bull’s market for several weeks. We’re just under all time highs on the S&P 500, testing the upper technical range put in place at the end of 2015.
SELL BIAS remains.
It’s not easy to be a buyer without any clear fundamental drivers for the momentum. Lack of volume suggests it’s all fluff, perhaps floating higher due to a lack of sellers.
Bigger picture fundamentals take darker themes of a contracting credit cycle and lower corporate earnings.
Rally leadership comes from the formerly beaten: Financials, Emerging Markets and Energy.
Individual names in Growth Stocks mentioned here continue to act solidly: