Tuesday Morning Update

We have finally broken out past 1423, giving us a new target of about 1431, which we might just test today, as so far the market has shown no signs of selling off this opening rally. XLK is leading huge, about a percentage point ahead of anything else, so we likely have some short squeezes going on there. XLU and XLP are lagging, but not by much, almost all the rest of the sectors are bunched around half a percent up. The Nasdaq is leading big, the Russell 2000 a much more modest lead. I have ol up, gold down, treasury yields up.

I have 109 new highs so far, with breakouts in MTSL, BDC, NSR, GPK, and CELG. I have EEI scheduled to report this morning, bit they have already reported this quarter, so I do not expect another report anytime soon.

2012-12-11 09:25:58

Source: http://samuraitrader.blogspot.com/2012/12/tuesday-morning-update_11.html