The U.S. equity markets delivered relatively widespread gains today. The move was led by the big cap stocks. Technology stocks were up, driven by gains in the semiconductor industry. That was thanks to a +9.2% surge in shares of chip giant Intel (INTC), which reported earnings last night.
Did you happen to notice how the Dow Industrials and the S&P 500 both ended the session near their morning highs. Yet the NASDAQ composite and the small cap Russell 2000 both ended the session near their lows? This divergence could be a warning signal.
I would be cautious tomorrow.
We are not adding any new trading candidates tonight.