Thursday Market Wrap-It Feels Quiet, But Stuff Is Moving

The SPX came with 2 points off all time closing highs of about 2090. Impressive. We have all complained lately about the chop in this market, but just blink your eyes and we’re back to the highs.


The QQQ almost made a new closing high for the year today and the Russell 2000 is right at the highs.


Biotech (IBB) got back shape and stair stepped higher all day.


The 10 year treasury has spent the last 2 days around 2%.  It nice to see the market moving higher with higher rates.  Its at a resistance spot (50 day moving average)


While you weren’t looking, the material sector has quietly made all time highs.  XLB


ZIOP went back and tested 10 day moving average and bounces almost 9% today.  Looks like it trying to go higher.


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