New lows have dried up, junk bonds are trending higher, and the major indexes are breaking to new highs. Bullish to say the least.

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The Leader List

I have changed this spreadsheet. The long-term leaders are blue, the short-term leaders are green and the ETFs showing recent strength are shown at the bottom. The S&P500 is the benchmark. 

EFA is breaking out. Very nice chart.

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Outlook

The long-term outlook is worrisome.
The medium-term trend is up.
The short-term trend is up.