After four days of flat lining, traders found a pulse in the Russell. This reminds me of those old Frankenstein movies where the scientist shouts "it's alive." The rebound in the Russell should help improve sentiment if it lasts a couple of days.
We could be poised for a significant FOMO rally if the headlines remain tame. Today was a good day in the market and it could be the start to a good week. Now that the S&P is well over prior resistance the 2,930 historic high is the next target and there is nothing in its way. The historic high will act like a price magnet ahead of a China trade deal as long as the commentary remains positive. Once at that level we could see a pause.
The big cap techs stocks were much more reserved today with Facebook the biggest negative impact. Amazon and Broadcom were the leaders.
New positions are only added on Wednesday and Saturday except in special circumstances.
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