Tuesday, June 19, 2012
Steady improvement in Breadth
Another day of steady improvement in breadth on the positive side for the Markets. Markets have quickly approached overbought levels and are waiting to hear from Fed policy meeting which concludes tomorrow. Since the Markets are up 4 days in a row and are at overbought levels expect some consolidation after the Fed meeting. As long as a sell off is contained we should see a tradeable rally develop. A lot of Gold and Silver stocks and oil and gas sector stocks are showing good relative strength from the past few weeks.