The Transports ETF (NYSE:IYT) is leading the market higher, which is healthy according to Dow Theory.
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Asian shares were mostly up Monday in tepid trade with banks leading the Australian market higher.
Still, there are several stocks in this group that are leading the market higher.
What the heck is it that is going to drive this market higher?
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More recently, many predicted that Japan's rebuilding after the March 2011 nuclear disaster would lift its stock market higher.
Another prevailing narrative is that the stronger economy is driving the market higher.
There are some cheap bargains in the odd lot market as institutional blocks have led the market higher this week.
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Special Offer: Smaller stocks have led the market higher for all of 2005 and especially since this rally began in early May.
The banks continue to lead the market higher, and I believe will hold clues if we ever do get a steeper correction.
Financial stocks led the market higher following a pair of strong reports on the housing market and some dividend increases in the sector.
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The new highs made a lower high (line c) at 208 on May 1, indicating that fewer stocks were moving the market higher.
Traders never like when the Dow Jones Industrial Average leads the market higher, since it shows skepticism of riskier small- and midcap stocks.
Though these two sectors still look positive technically, they are not currently leading the market higher like they did going into the May highs.
There, energy, materials and conglomerate stocks led the market higher, while more defensive sectors, such as utilities and consumer staples, saw more muted gains.
Many companies, seeing their bond prices fall, would likely be forced to offer the market higher interest rates to bring them back to the table.
Exporters followed the market higher in Tokyo, with Canon Inc.
He said there might have been some short-term trading interest in trying to push the market higher to cause those shorts to cover and extend the gains.
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Now that most shorts have been squeezed, it will take dip buyers to drive this market higher, and the rally is likely to be a bit slower.
If this sector is going to propel the market higher, then we should see some of the leading oil stocks turn higher in the next week or so.
Consumer staples and energy stocks led the market higher today.
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The technical situation has been responsible for driving the market higher since April and the question is whether the rally has run its course will remain firm until August.
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The ratio dropped back to test the rising EMA in April and May, but the break through the resistance at line d, confirmed it was leading the market higher.
Clearly, technology stocks have been leading the market higher, and if the financial stocks are now becoming a leading sector it may help push the market to significant new high.
"We're starting to see some bargain-hunting in tech, and if that's sustainable, that could push the market higher, " said Jason Ware, market strategist at Albion Financial Group in Salt Lake City.
Many of the individual restaurant stocks have done even better, and typically, those stocks that perform the best during a market correction will lead the market higher once it turns around.
Long-term readers will know that I follow the Transports closely and they have been leading the overall market higher from the March 2009 lows until the July 2011 highs (line 1).
Utility, consumer discretionary and financial stocks the market higher.
Capital goods stocks led the market higher this morning.
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With third-quarter economic growth the strongest in 19 years, Collins believes small- and mid-cap growth stocks (which have traditionally outperformed large caps as the economy accelerates) will continue to lead the market higher.
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