Mid-Day Thoughts

‘Afternoon,

1)  Broad based rally continues today, after two day sideways (non) sell-off.  All ten S&P sectors comfortably in the green.  Eight sectors up a percent or more.  The 1942 level acting more like a magnet than support or resistance.  Levels to the Up/Down would be 1948/1935.
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2) Oil roars (production freeze?, rig count?, short squeeze?) to the tune of more than 5% helping the Energy sector, and the Transports to lead the pack.  Materials & Discretionary also very strong.
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3) What happened to the “Safety Dance” ??  Dollar strength (Pound/Euro weakness for obvious reasons) taking a bite out of Gold (and maybe some profit taking).  Treasuries slightly off, Staples & Utilities up….. but lagging, and the VIX approaches zero.
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4) Earnings tonight:  DDS pricing in about $5 worth of volatility (note: this one only trades monthlies, nor weeklies.), FIT, and THC both pricing in a rough $1.50.
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5) Catch your old buddy on CNBC Closing Bell at 3pm with Kelly Evans, and Bill Griffeth.