As we discussed in this morning’s webinar, the S&P 500 looked more likely to try to push through resistance while following the path of the Russell 2000 and Nasdaq stocks higher.  The SPX did in fact close beyond clear resistance with a fine finish to the day.

There should be a little more room to run before it hits our next resistance level about 1.5% higher.  Hopefully, if that does unfold, our bullish ideas and mentions will work higher.  Our ideas in MO and ROKU stalled today but as often is the case, many mentions, actually nearly every mention, did move higher.  FAST, which seemed unusually heavy for having little in the way of news, was the only exception.  As for the others, VRX, MYL, JNPR, CERN, LYB, and HOG, all moved up at least a little if not dramatically higher.  If you became involved in these fast moving names be on guard for a false breakout, as is always the case, and also look out for the market having moved up for too long and likely being in need of a breather at some point.

We hope there’s enough time and fuel left in the tank for those names and the ideas to move up for the balance of the week.  We’ll be in touch as the situation warrants. 

Thanks,

Wayne Razzi