I took a look at the leading sectors in the market today (Wednesday) and just scrolled through their charts. Nothing fancy. What I saw in the home builders sure looked like it needed "schwing!" as its caption. Same for semis. And electrical components.
|I am the Vampire Squid of Wall Street!|
Even the Vampire Squid (that would be Goldman Sachs) gets a schwing, or at least a "shproing" since it is still in a low-level range.
Semis are not overbought but homies and Home Depot are.
I wonder if the market got drunk again on global QE (thanks IMF!) and now it is thinking with its schwing, if you know what I mean. Sentiment is rather bubbly, too, making this whole rally look like a house of cards.
Party on Garth!