I am back from a few days with the family in Boston and still enjoying the memory of Herrill's malted vanilla ice cream. Brings me back to college days.
It is Sunday night and while I hinted I'd be blogging today I have only one thought. To me, Last week's closing rally was a relief rally. Leadership was all financial and REITs. Bank of America up 35%. Come on, would you touch that now? Not me.
I am a bit tired so I'll turn the analysis over to you. Check volume on the market, market ETFs and then on the financial and cyclical ETFs. Where was the action? Looks like a rush to speculate in financials, to me.