The commodity index etfs may be anticipating further fed quantitative easing, i.e. inflation.
The Canadian dollar is on the verge of breaking out to the upside. That would confirm the move in the commodity complex.
The gold etf held above the 200 day MA. If the Fed does inflate more, gold would seem a logical beneficiary.
REITs are also displaying positive action which is also consistent with monetary inflation.
I noted a double bottom in the ag commodities a few weeks ago and the trend has now accelerated to the upside.
If copper is as good a leading indicator as people say it is, a double dip seems unlikely.
The platinum etf has formed a double bottom.
Residential REITs are outperforming other sectors. Foreclosure victims have to live somewhere.
The sugar rally I flagged a month ago continues.
Bonds of all types are massively overbought. I don't know when the reversal will come but my guess is that it will be rapid and very, very painful.
The S&P and the emerging markets have gotten all the attention lately but the EAFE may be the better bet.
The industrial sector etf looks positive.