Major averages rose yesterday on mixed volume. The Chinese markets continued to jump higher as China's central bank accelerates the pace of its quantitative easing program. This is in alignment with other central banks around the world. The US markets have been moving sideways but market internals in the way of stock leadership suggests odds favor the major averages breaking out to the upside, though some back-and-forth action may occur as the major averages have expressed some reluctance.
Photonic IC chip maker Infineon (INFN) posted a pocket pivot yesterday. Earnings are soaring, sales are accelerating, institutional sponsorship has grown the last 3 quarters, group rank 8. INFN had a gap up on its prior earnings report. We first reported on INFN on March 9.
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