Jim welcomes back David Nicoski, Director of Research at Vermilion Technical Research. Dave notes that the key factor is the decline in the dollar, which is leading to a reflating of the market and a broad-based participation. He believes that concerns about the energy companies and banks are fading with the rise in the price of oil. Dave even says that if the S&P 500 were to move to a new high, we could see a parabolic move in the market as cautious fund managers jump into the market to catch up. He does add that any buying from these levels should only be done on pull-backs. Dave believes the next sector to advance may be health care, which has lagged this year. Also in this segment, Ryan Puplava has this week’s Market Wrap-up, and Ned Schmidt covers the metals and commodities markets with Jim.
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