10 November 2016

Just Charts - Deny and Defy - Les Feuilles Mortes

It was an absolutely beautiful late Autumn day here,  crisp and sunny.

And I could not resist the temptation to be outside working on productive things in the yard.  It gets dark so early now it is good to use all the daylight that we have.

The deny and defy rally looks to be just about over.   Huge divergences today.

It is almost as if the financiers are playing out the script they had agreed upon before the election.

Financials and healthcare are leading the way up on hopes of a friendlier regulatory climate.  The sectors that might be affected by a major fiscal stimulus in US infrastructure are feeling the love.

But the market seems very schizophrenic about the future.

Let's see how things go from here.

Have a pleasant evening.