MDM has switched to a buy signal. Leading stocks look to have put in a floor by bouncing on strength. Major averages were up on higher volume as optimism surged that the impasse between the House and Senate would be resolved in short order. Both the NASDAQ Composite and Russell 2000 closed at new highs. The S&P 500 was up beyond its threshold level to trigger a follow through day. MDM has switched to a buy signal.
Quantitative easing remains on full bore, and one analyst at Deutsche Bank said it is less likely the Fed will have enough data to be confident to taper in the coming months, so ultimately it may be best to not fight the Fed, the ECB, or the Bank of Japan.
IWM (Russell 2000)
UWM (Russell 2000)
TNA (Russell 2000)
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