Equities made an explosive rebound to new highs off of the Egyptian dive, led by Materials (XLB) up +4.7%, and with Treasuries conversely finishing down -3.0% on the week. Save the Dow, the major indices aren’t terribly overbought, although the VIX is becoming stretched relative to it’s intermediate moving average.
January Summary
Energy was the big leader for the month of January.
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