For the day the SPX/DOW were mixed, and the NDX/NAZ were +0.60%. Bonds gained 10 ticks, Crude rallied $2.10, Gold rose $3, and the USD was lower.
Well, we’ve rallied about 105 S&P points in about nine days and we find ourselves just about 10 handles away from the all time highs around 1850 again. It will be very interesting to see if this vicious V shaped rally can stick or not. The risk on sectors like biotech and solar are still ripping, technology acts very well too, but risk off sectors like utilities and gold are making highs for the year so far. Interesting mix of movement indeed. I can see a pop to 1880 if we break through 1850 though. My gut says we consolidate then go higher.
Here were some percentage winners today
Here were some percentage losers today.
GOOG made new all time highs today, but AAPL put in one of the most bearish candles you will ever see. Tomorrow will be a big day for the stock in my opinion (could be a reversal day) and will give us a good feel as to where it may be going short term.
The ACT purchase of FRX set off the biotechs and the IBB made another new all time high.
We had some triggers today, so check the P&L for any updates.
See you guys in the morning.