- Small-Cap Growth +1.71%
- 1) Alt Energy +2.07% 2) Biotech +1.75% 3) I-Banks +1.69%
- HSH, ENOC, MONT, MOVE, PPC, TIBX, CXDC, SALE, FE, ISIS, EXC, BKS, OLED, SPLK, ICPT, OPHT, DWRE, DATA, RXN, CTRL and CNC
- 1) TIBX 2) HSH 3) S 4) GDP 5) FE
- 1) AAPL 2) BAC 3) GOOG 4) TWTR 5) CPHD
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On Monday, May 27, stocks continued risk-on as Global Financials, IXG, traded higher, but remains below its recent high. The National Bank of Greece, NBG, and Spain’s Banco Santander, SAN, led European Financials, EUFN, and the Speculative Leveraged Investment Community, that is Stockbrokers, IAI, Regional Banks, KRE, Investment Bankers, KCE, Too Big To Fail Banks, RWW, Insurance Companies, KIE, FNF, FNHC, UIHC, AFH, AFSI, AHL, and Life Insurance Companies, PUK, putting in the likely top in a global recovery rally of the European Financials, EUFN, as well as the Emerging Market Stocks, EEM, EWX.
World Stocks, VT, rose to a new rally high, manifesting the three grand finale soldiers salute candlestick pattern, with the credit sensitive sectors rallying strongly; these included Small Cap Industrial, PSCI, Small Cap Pure Growth, RZG, and Small Cap Pure Value, RZV. The trade higher in Retailers and Credit Services, communicates the completion of rally of the credit sensitive sectors.
The Eurozone Nations, Italy, EWI, Greece, GREK, and Spain, EWP, as well as the Eurozone Stocks, EZU, led Nation Investment, EFA, and Small Cap Nation Investment, SCZ, higher, in what is likely a blow off market top, on the recovery of investor sentiment from credit fears in Europe, as well as the United States, and on the recovery of the emerging market debt, EMB, EMLC, EMCD, and the emerging market currencies, CEW, such as the Brazilian Real, BZF, and the Indian Rupe, ICN.
Nations trading lower on competitive currency devaluation at the hands of the currency traders included South Africa, EZA, Russia, RSX, ERUS, New Zealand, ENZL, South Korea, EWY, as well as Emerging Europe, ESR, Emerging Africa, GAF, Turkey, TUR, Brazil, EWZ, EWZS, India, INP, SCIN, Columbia, GXG, and Indonesia, IDX.
Emerging Market Infrastructure, EMIF, such as CIG, ELP, KEP, HNP, EBR, EOC, CPL, EDN, Brazil Financials, BRAF, and India Earnings. EPI, led Emerging Market Financials, EMFN, lower, on the trade lower in the Emerging Market Currencies, CEW, with the Brazilian Real, BZF, and the India Rupe, ICN, trading lower.
One can follow the collapse of Emerging Markets, EEM, such as EGPT, SCIN, IDX, GAF, GXG, EWZS, TUR, with the assistance of this Finviz Screener of the Most Carry Traded Nations.
Most Yield Bearing Investments, traded higher; these included Premium REITS, KBWY, such as MIC, BKD, and SBAC, and Shipping, SEA, such as CMRE, KEX, TK, BALT.
Apple, AAPL, traded higher, leading Dividends Excluding Financials, DTN, to a new rally high.
Emerging Market Infrastructure, EMIF, traded lower on derisking out of currency carry trade and debt trade investments in India and Brazil; and Energy Partnerships, AMJ, traded lower, evidencing that the investor, specifically the fixed income investor is going extinct, on the failure of trust in the world central banks’ monetary authority.
Debt deflation is seen in Major World Currencies, DBV, and Emerging Market Currencies, CEW, now both trading lower; and is driving Global Energy Producers, IPW, FILL, lower; these include South Africa’s SSL, Brazil’s PBR, China’s SNP, Canada’s CNQ, SU, ECA, Argentina's YPF, The UK’s BP, Europe’s RDS-B, US’s HES, CVX; their trade lower reflects the death of currencies and the failure of credit.
The chart of the Interest Rate, ^TNX, shows a trade lower to 2.52%; with strong support seen lower at 2.49%. Aggregate Credit, AGG, traded up to its May 15, 2014, high, and was led higher by 30 Year US Government Bonds, EDV, and US Treasuries, TLT. Junk Bonds, JNK, traded just slightly higher than is all time high that occurred on May 16, 2014.
Gold, GLD, and Silver, SLV, and Agricultural Commodities, RJA, traded strongly lower, leading commodities, DBC, lower. Spot Gold, $GOLD, traded lower to find support at $1,260.
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