Market Alert - Afternoon Session

Stocks are up and indeed after a higher open and fade into and then a 2.5 hour lateral move, they are moving higher once again. Frankly it looked as if the bounce attempt just did not have the sauce it needed. This afternoon bounce makes it more interesting. Large cap indices up 2+%, smaller caps 1.5%ish, yet in many cases it looks more like a relief move. That said, if the stocks in good patterns can make the moves then we want some more exposure in them. Will see how stocks such as NFLX, ARRY, ON, LRCX hold up in the last hour.

SP500 54.59, 2.11%
NASDAQ 170.90, 2.45%
DJ30 534.37, 2.29%
SP500 1.55%
RUTX 1.39%
SOX 3.4%
NASDAQ 100 2.92%


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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