Gold and silver stocks lagged the metals, but oil stocks outperformed oil. In the US, small caps outperformed big caps, in Canada, it was the opposite.

If I'm reading this right, the US economy is healthier than we think. Small caps are more economically sensitive than large caps. Also, oil stocks are fully supporting the increase in oil prices, suggesting increased economic activity. Market leading indexes like the Russell 2000 and the transports are at or near new highs. Also, US market internals are strong right now.

I think we're back on the end-of-QE2 timetable, so we should go up for a couple of months or so (although the next day or 2 may be down because we're short term overbought).

One problem - the Venture is still lagging, so it will probably pull the rest of the market down in a few months. I expect a major correction between the end of QE2 and the start of QE3.