Good morning. Happy Tuesday.
We got a big gap up yesterday and lots of early strength that put every index except the Russell 2000 and S&P 600 at a new high. The small caps led, the dollar was weak, commodities did great and all 100 market groups I follow closed up on the day. And volume picked up some. It was one of the strongest days we’ve had in a long time.
The Asian/Pacific markets closed mixed with a slight bearish slant. Europe is currently down across the board, but there are no big losers. Futures here in the States suggest a small gap down open for the cash market. Coming off yesterday’s big up day, no big deal.
Here’s the SPX weekly. We’re into the thin volume area I identified a couple months ago.
Here’s the SPX daily without any trendlines. There are been a couple periods where longs had to be exited and money was available on the short side, but overall, the trend has always been up.
Here’s the dollar. It finally closed below 75.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers