Good morning..
Looking around the world this AM.
Asia
China was unable to hold onto its green and closed slightly red today while Japan continued its rally and closed up another 1.3%.
That put the NIKKEI at new highs while China continues trying to recover from a good pullback from its November highs.
Europe
Europe continues its festive green today with a 100% participation on the bull side. There is some bank participation today.
Economic News
With the exception of some Japanese numbers that came out overnight (bullishly evidently) there are no economic numbers due today.
Today's Outlook
If I had to guess I would predict a digestion day from the gains of last week. That we would have an NR7 type day trading in a .5% range between high and low. The unpredictable piece is the return of possibly some pro (smart) money volume that was missing on the Thursday half session and where that money might go.
The underlying breadth of my indicators remain very bullish and the momentum is to the upside. Watch the banks they need to join the parade already en-route in order for this rally to continue.
See you in the room
