Dow up 1%, Nasdaq 1.28% - some stocks, my favorite ones, are really flying - while I'm sitting on the fence.
So what do the headlines on Yahoo!Finance say?
* Homebuilders' Confidence Stuck at 18-Month Low
* Stocks extend September rally ahead of Fed meeting
* Gold climbs to record on weaker dollar
I think that since gold is rallying, it should be a good exercise to view the value of the dow in gold, since the 'correction' has begun. Perhaps for some good stocks though, there's real 'end of the year window dressing' mutual funds purchasing pressure. This could last to the end of November.
* PS: SPY is breaking above resistance, while hovering above 200 SMA, next technical signal to look for to signify a bullish wave: 50 SMA cross-over. In addition, the last two dips represent a higher low. So technically, a rally is upon us. Fundamentally? Well - check the above headlines again...