It's hard to imagine the slope of XIV's ascent getting any steeper...it's almost vertical at this point...reflecting the apparent strength in the markets as the major indices hit new highs on uber low volume.
So much for yesterday's caveat regarding the M3 short term ALERT...XIV blew the doors off once again today.
A closer look at the markets shows not all sectors are participating with equal vigor but financials and the Qs were leading the pack today and previous bullish periods have been led by this pair so today's odds favor more of the same.
We are approaching overbought levels although strong economic news in terms of housing starts and consumer confidence along with reasons for calm in the Ukraine may push prices higher.