Morning Thoughts Feb 24

BEST SECTORS: E&C +4.1%, Housing +2.2%, Biotech +2.2%, Brokers +1.6%, REIT +1.4%, E&P +1.3%
WORST SECTORS: Solar -6%, Airlines -1.3%, HMO -0.9%, Utilities -0.3%, Fertilizers -0.2%, Coal -0.06%
Strong showing on thin vlm – SPX futures (ESH2) hit key 1,350 early and bounced – Nasdaq100 another fresh 11yr high close (despite AAPL didn’t announce a dividend) – TRAN index hit its 100-day and rallied, and more importantly, €uro had its highest close since Dec (well above 1.337 and took out its 100-day MA).
The Euro here may be a short candidate for Bucket 2…see the chart below

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