Rotation Report: Dull Market

After last week's news gauntlet, all of a sudden, the news dies down in a big way until the Fed meeting & press conference on the 18th.  Financials have shown new life and are making it really hard to be bearish.  It makes for a potentially dull week headline wise, but like always, there are big happenings in stocks and groups underneath the surface.  Let's dig in..

Dow Transports aren't confirming new highs in the Dow Industrials, yet.

Regional Banks had a bullish outside week after testing numerous key moving averages.  So many stocks in this group look good.

Financials have started to show some strength.  I'm watching this resistance line for a real sign of strength.

The consumer ratio cloud is flipping here and now.  Let's see how it acts.

Moving outside the US...

Despite all the talk about how weak Europe is, Germany hit a new YTD high.  What an explosive setup.

The World Index relative to Emerging Markets is testing the highs of the year.  

This coming while emerged markets are breaking out relative to emerging markets

Perhaps this monster breakdown in emerging markets debt relative to US debt has something to do with it.  Nearly a 5 year breakdown...wow!

Brazil has found steady support.  Is this a 39-44 range?

Nobody wants to own chinese stocks, but the China Financials ETF has broken to all time highs.  How is that not a great sign?  We're going to need some China exposure into 2015 and this could be one of the most explosive, best performing ETF's in 2015.

That gulf states breakdown is pretty fugly, but horizontal support is nearby.

Crude flat panicked last Sunday night at the 63s low.  Now back in the 64-65 area it might be worth looking long.  It'll either work, or not, in a big way.

The industrial metals index is still trying to work out a higher base.

Corn relative to DBA has formed a head and shoulders bottom.  Let's see if it breaks.

Thanks for taking some time to read this!  Trade 'em well!