Markets rose close to one percent Wednesday to finish close to their highs, on lackluster volume. The benchmarks are zeroing in on their respective 50 day SMAs, and for the week are up a little more than .5%, as they try to record a week in the black. They have been lower 4 of the last 5 weeks. The S&P 500 did finish above the psychological 1600 handle today. Indexes rose in a perverse fashion, as GDP was revised lower, meaning the possibility of QE being extended or even increased. Seems like for the day bad news was interpreted as good news. Leading stocks are beginning to act well again giving the bulls some ammunition. Stocks that fall in that category include PCP CBOE WWWW BWLD. On negative notes AAPL closed south of the 400 handle, on a day when the Nasdaq rose almost 1%. That makes the Nasdaq’s ascent today look even better as the 800lb gorilla comprises more than 6% of the index. Barely received a mention, and perhaps that should come as no surprise as the stock has basically undergone a quasi stock split down almost 50% YTD. GLD also is down more than 43% YTD, making it almost a surety that a 12 year winning streak will come to a halt.
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