The retail sector has enjoyed a solid run off the August lows. The S&P 500 index gained 14.1% since the August low and XRT, SPDR S&P Retail Index ETF has move 30.4%. The leadership from the sector has played a key role in the move of the broader index.

The broad market came through two major news events intact yesterday. The elections ran according to the script laid out and then miraculously the Fed played according to script as well. Following the afternoon announcement the markets acted as if they really didn’t know how to respond. The traders were set to respond if it was too much or too little stimulus, not just right.

The price of gold has moved back to $1360 gaining nearly $40 the last two trading days. The intraday high was $1388 just two weeks ago. The pullback to $1320 invited those who think gold prices are inflated to pontificate about the metal correcting. There have been some analysts who believe gold will drop to $1000 before year end.