The S&P Midcap 400 Index below indicates a strong move off the November 16th correction lows. I have seen today’s action being described by traders as “euphoric.” I am not sure we are seeing euphoria so much as a spirited holiday rally. Short-term, we might be a bit frothy. However, there can be no denying the improved price action of late virtually across the board.
With the small and mid-caps leading us higher, I am playing along until proven wrong.
_____________________________
If you enjoy the content at iBankCoin, please follow us on Twitter