Market Alert - Last Hour

Stocks are holding gains, giving a bit back late, but all of the indices are higher with solid gains in NASDAQ with SOX and SP500 not far back. Outside of NASDAQ 100, however, no index is sporting 1% gains. The msall caps are bringing up the rear for a change after an incredible run upside.

SP500 14.37, 0.67%
NASDAQ 44.07, 0.83%
DJ30 74.82, 0.40%
SP400 0.53%
RUTX 0.30%
SOX 0.61%

Picked up some FCX and CF, and looking at BAC, URI, PDS before the close. BLKB is also trying to put a move in. There is a bit of a fade here late that may give some better entries. Indeed, wish we had waited a bit on CF as it has come back some.

Of course you have to ask how long can this move continue, but the thing is, there are lots of stocks in good position to move higher and that provides the fuel for a continued move. Also, as noted over the weekend, some areas rest while others move higher, and that is an indication of a healthy market.



Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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