From the Desk of Steven Strazza @Sstrazza
Stocks have enjoyed a powerful rally off their summer lows, as bulls have been in control for about two months now.
A lot of technical damage has been repaired during this time.
The outlook from sentiment and seasonality assure us the environment is ripe for a bottom.
Breadth thrusts are stacking up and suggesting we could be in the early stages of a new bull market.
And risk appetite is gradually reentering the market, supporting the bullish price action.
Today, we’ll review one of our favorite intermarket relationships, the discretionary versus staples ratio.