Good morning traders. Morning thoughts today from Adam Grimes at The Macro Report:   For several weeks, we have been postulating that leadership would emerge in Energy and Technology, and this seems to be true, for the time being. Current laggards are defensive names in Staples, Healthcare, and Utilities, which is to be expected on a rally. Also to be … Read More

Good morning traders. Big gap up in the market has us opening firmly above the previous week’s range in the market. We are now just a point in the SPY shy of the 52 week highs at 122.12 which should act like a magnet. Until this market shows us otherwise there is no point looking on the short side except … Read More

Good morning traders. SPYs trading up premarket near the rally highs. I am not getting excited about chasing the market at these prices as recent highs in the market have seen profit taking. I have also started to note that the rally is beginning to narrow, as individual stocks as a whole are starting to follow the movement in the … Read More