Tuesday, October 21, 2014

Clear Sailing?...10.21.14

M3 is liking this market for bullish momentum.  Per the SPY TrendX there's still plenty of potential upside left and a revisit of the previous highs is not out of the question as long as earnings keep coming in like Apple's, Schwab and and GE.  A few party poopers like IBM, MCD, NFLX, etc. could spoil the party but those results appear to be the exception rather than the rule.  If the Europeans get moving with a stimulus package then EEM and EFA will be the place to be...at least short term.
For now XLE is making up lost ground quickly and the Qs are surging ahead (see VEGA below).