This bull get legs

The rebound came faster than I expected, by the end of the day, all major indexes have overcame their resistances, technically, a “break out” is occurred, obviously, we need some follow through to confirm, but nevertheless, the page has turned, and we are entering a new phase.

 

The main theme of the current condition can be summarized as general market is in an uptrend and commodities are busted.

 

As suggested several blogs ago, it is time to be in consumer discretion, transportation and technology.  This is primarily because oil price is receding, and historically, those sectors perform better in an environment of declining oil.

 

Agriculture business may be close to the end of the correction, I am somewhat encouraged by the reverse today in this sector in general, but the trend has been down in this sector, as a general rule, it is not a good idea to do a counter-trend trade.  So, those should be on the watch list for the time being

 

Tomorrow, we will see the all important job number, but lately, the market has been ignoring the bad news and rally on the good news, so, maybe the number, however it is, may not affect stock market at all.

 

Good luck