We want to be buying stocks. I don’t think I can be any more clear about that.
You guys know me as the obnoxiously bullish guy the past couple of years in the midst of “unprecedented pessimism”. I’m willing to admit that I have an unfair advantage that I just pay attention to price and purposely ignore everything else that most of you have to endure. This focus has allowed me to see clearly what is actually taking place instead of assuming that who I’m listening to or reading knows what’s going on.
Today I want to show you guys one single chart that I think tells the story of what the hell is going on here. It is awfully difficult for me to be bearish of stocks if the most important sectors in America are not just making new highs, but also breaking out to new relative highs. These leading sectors aren’t just doing well, they’re outperforming the rest. [Read more…]