Market Alert - Last Hour

Once again the stock indices are set to close at higher highs, but the move is not massive. Stocks started soft and then rallied, coming off a midday test to put in higher session highs and in most cases new highs.

SP500 2.48, 0.10%
NASDAQ 12.10, 0.21%
DJ30 11.51, 0.06%
SP400 0.56%
RUTX 0.92%
SOX 0.73%

Trump is set to announce particulars, perhaps, on his infrastructure plans on Tuesday. That said, he has retracted his 'phenomenal' tax plan announcement, saying that taxes cannot be addressed until the ACA is addressed. Bottom line, who knows when something will be announced. The administration says the ACA loused things up so bad that fixing it right will be tedious. The administration says it has a solution, but that the insurance market is very complicated. Well, they made it more complicated than it ever need be, but that is not the point at this time, is it?

We took some gain on BLUE, ENPH while buying some OREX. FB is decent, but it is has faded off its high and volume is so-so. Watching it as the last hour continues.

Some chips are fine, others are struggling, e.g. XLNX, SMTC. LLNW, after looking quite good last week, struggled Friday and is doing the same today. Needs to come back here in this last hour.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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