Stocks Limp into the Bell, Because We’re FOC’d

This was the most pathetic excuse for a rally since the false starts of the dot com days, post implosion. Less than 60% of stocks were up. Oil could not hold onto gains. Gold rages higher. The dollar sold off. Treasuries rose.

Could it get more convoluted?

Investors are unwilling to commit to this market because nothing has been resolved. By nothing, I mean Fed, Oil, China, better known to me as FOC.

Until this concerns get addressed, you’ll continue to enjoy 60% breadth days, with smart money fleeing for the exits into bonds.