Yesterday’s rally led the market further into overbought territory, and a pullback is likely in the near future. The Fed’s announcement of a 3rd round of quantitative easing prompted a spike in trading volume, with global markets rallying on Friday. The MSCI Asia Pacific index climbed 2.4% today while the Stoxx Europe 600 index rose 1.3%. The S&P 500 and Dow hit the highest levels seen in almost 5 years during yesterday’s rally. Retail sales figures, the consumer price index reading, and industrial production numbers are all due today as well.
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The 5 stocks with the Top Real-Time Edge right now are:
- Edwards Lifesciences Corp. (EW)
- Watson Pharmaceuticals Inc. (WPI)
- Humana Inc. (HUM)
- O’Reilly Automotive Inc. (ORLY)
- Altria Group Inc. (MO)