After this mornings jobs report, financials are getting bought hand over fist. $JPM and $GS Goldman Sachs and J.P. Morgan Chase are up 2% each. Even more impressive, the financial ETF $XLF today has broken resistance that's been over 10 years in the making.
When stocks hit their lows a few weeks ago I said the market had it 'A' bottom ,but it was not 'the' bottom.
Since then prices have ripped higher altering the extreme bearish sentiment. Bearish sentiment at the time had reached the tipping point. A 5%+ rally for the stock market has righted the S.S. Deflation. It is not free to sail back into stormy waters