NASDAQ, SOX are through the 50 day MA's as the relief bounce resumes a bit sooner than expected. It did, however, have a good rest as stocks started low on the CPI worries but steamed higher the entire session.
This even as the 10 year bond flicks at 3% (2.913%).
SP500 34.74, 1.30%
NASDAQ 126.35, 1.80%
DJ30 250.45, 1.02%
SP400 1.73%
RUTX 1.75%
SOX 2.11%
NASDAQ 100 1.77%
Growth is the strongest but everything is solidly higher. Some beaten down chips are ripping upside, e.g. LRCX, AMAT.
Stocks are more or less holding their gains toward the close. Will see if any late pullback occurs on the rebalancing of ETF's. Looking at positions on the likes of CAT, JBHT, FB, ESPR, MSCC.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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