GFBP Tracker Leans Equity Bullish

Friday's settles prove resiliency in the equity sector once again!

As we noted during the day last Friday the Global Futures Benchmark Program Positions Tracker, was setting up to get back into the Dow. We were noting the 26500 level as our key on Friday and most likely a close above would put the tracker into long position sentiment which it did.

We also noted during the early note on Friday that the Tracker was leaning on a renewed Nasdaq Long and reversal of the SP Long in addition to adding on the new Dow long. Well that was indeed the case as both the 26500 level in the Dow as well as the 10600 level in the Nasdaq were settled above. The recent outperformance of the SP and R2k vs the Nasdaq was indeed due for a breather as the new economy continues to be somewhat immune from the old value economic equities. We believe this will continue to be a hard nut for many fundamental economists to reconcile with, but as many long time Magnelibra Econemotions readers have come to know, this is not your standard textbook economy, rather it is an economic s…