Strong Rally, But Some of the Moves Were a Bit Extreme

Some assets will need to see near-term "breathers" soon after yesterday's huge moves

• The response to President Trump’s election was obviously very bullish in the stock market.  However, some of the moves were a bit too extreme on a short-term basis…and thus they should not be chased over the near-term.

• Instead, areas like the banks and the small-cap Russell 2000 should be areas where people should look to buy on weakness if they believe that these initial moves will turn out to be lasting ones.