The Brains Trust, page-1589

Twelve up days in a row for the Dow – not sure if that is some sort of record but I am not happy with these little up days. Usually lead to surprises on the downside.

Of the nine sectors that make up the New York Stock Exchange, only Healthcare was at a new high for this move. This sector has been very strong for some time. As I have mentioned before, obviously with the scrapping of Obama Care, it is going to be 'let her rip' with health care costs going forward.

Russell 2000 (RUT) was stronger but nowhere near hitting its head on the brick wall I have drawn across the tops of the highs since 2014.

US Dollar was weaker earlier in the session but then rallied – everything seems to be caught in this limbo at the moment including their bonds ($TNX).

Gold......another new high for this move. However it hit a resistance line and turned down sharply. Platinum was particularly strong early before sellers reappeared. So this consolidation period in metals is continuing.

The closest thing I can find to watch cobalt in the US is the REMX which is the Rare Earths/Strategic Metals ETF. That had a large rise but has come off fairly sharply in the last few days. Now whether that means that our cobalt stocks are going to continue to be so much in favour I don’t know but it might suggest that a bit of care could be needed. The only problem with having been around the markets for any extended period is that the same old stocks always seem to jump on the “next best thing” on each cycle. Unfortunately most of them never get much further than that!!