Market Summary

What I find of note in this weeks market summary and also the previous one is that the Russell 2000 small cap index is so high on the list. It is nearly even for the year and doing better than all the other indexes year to date save oil. This tells me that the Russell 2000 small cap index, which is “riskier” than the other larger cap index, is indicating bullishness in the markets. This is a positive sign for the markets. Click on table to enlarge.
Also of note is the strengthening US dollar which has broken out above its six month high level. A strong dollar is bearish on oil and gold and will tend to drive them down. In the sense that high oil leads to high gas prices a strong dollar should bring some relief at the gas pump. Click on chart to enlarge.