Financial markets of all types confirm the bullish theme for January

If anyone had doubts from last week whether the rally would continue, financial markets proved it with their fireworks today! Almost everything but the dollar and VIX moved up, some assets almost 2% (some rather more actually, like steel). The idea of an intraday buy opportunity was better for RUT than SPX, and we'll just have to see if there's a better pullback opportunity tomorrow. Either way, traders should consider scrambling on board in some fashion, as the projection is to higher prices by opex and mid-January. Below are charts for euro, GLD and QQQQ. it's a little surprising that euro and GLD didn't move more but there's more technical weight on them (as you can see in the charts). It's possible they'll only make a pullback upward and then deeper into March when equities drop back after this month.

But one day at a time. The way equities held in after hitting SPX 1133 is a sign of strength. Timing-wise, it's hard to expect another good buying opportunity after tomorrow. So rest up and we'll see what tomorrow brings!