|Despite all the troubles in Europe the Stoxx made a new 2012 high last week.
Color me impressed.
|The S&P 500 is trying to follow suit but there’s significant resistance still
|Lumber, driven by the strength in housing, is a major bright spot in commodities.|
|The banks have broken out above resistance but…|
|I won’t be convinced until they break out of this triangle pattern.|
|Same goes for the small caps.|
|And the VIX is bumping into the bottom of it’s recent range suggesting
a pullback for stocks may be in order.
|Finally, Dr. Copper (PhD in economics) doesn’t look too bullish.
We’ll need to see him get going to validate any optimistic economic hypothesis.