{+++} The SPX tacked on almost another 1% today and is now back above its 50 day moving avg. The Dow acted well too, and is about 60 points from its 50 day. Remember that 1675-1680 was initial support on the way down, so we are now back above these levels which is a good thing.
European equities are moving well and the hated emerging market (EEM) stocks have been on fire.
The banks $XLF are acting better and closed over its 50 day moving average. That’s a good sign.
See you in the morning. I took about 1/4 off YELP and NFLX today for +14.00 and +24.00. Not bad, both look higher, so for now we’ll keep the balance.