The Rotation to Cyclicals Continues

The market is still digesting the OPEC news. Banks and energy stocks are up today while tech and income stocks are down. If you recall the “Elfenbein Theory to Explain the Entire Stock Market,” today is a classic Quadrant I & II day.

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Bonds are doing poorly and stocks are rotating to cyclical areas.

Ford reported that November was a good month for sales:

Ford’s sales increased 5.2% for the month to 197,574 vehicles, easily beating expectations. That included a 10% increase in retail sales, bolstering the bottom line. The company’s flagship Ford brand was up 4.6%. Its luxury Lincoln brand continued its hot streak, rising 19.1%.

This morning, we also learned that the ISM Manufacturing Index rose to 53.2 last month from 51.9 in October.

Posted by on December 1st, 2016 at 2:50 pm


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