On the one hand, stocks are breaking out of key patterns, such as the small caps pushing above this triangle:
And, to my eyes, a breakout like this – – what’s the word? – – oh, yeah: sucks.
On the other hand, there are some sectors that remain nicely positioned and appear to be turning away from recent strength, such as financials:
We don’t even care, as restless as we are;
We feel the pull in the land of a thousand guilts;
And poured cement, lamented and assured;
To the lights and towns below;
Faster than the speed of sound;
Faster than we thought we’d go, beneath the sound of hope.