Monday, May 6, 2013

S&P 500 up 13.5% so far this year

Today, U.S. equities hit new highs and the dollar rallied as well. This bullish move in the dollar and equities was driven by falling bond prices and stagnant gold prices. We are watching for the dollar to continue rallying and expect to see a pull back in equities as the rally was on very light volume.