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Good Friday

We have a sea of green on the WTD timeframe, the Top-10 have added an estimated 2.33% of the S&P 500's 3.46% WTD gain, with 73% of the index's 503 holdings positive WTD.

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Continuing the project on 52-Week High/Low analysis.

UPDATED: [SIZE=3]Here’s a 52-Week High review of our progress from Thursday’s close to the 7-session low, then going back to the 5-Aug -9.71% correction. At present 50% of the Top-40 are within ...

We got some upside follow through yesterday to Wednesday's huge positive reversal day, just as the textbooks would suggest might happen. The S&P 500 has been up four days in a row as it is reaching up to the previous highs, trying to get back last week's losses. The charts look good but the Fed is looming. A breakout to new highs or a sell the news reaction are the two real potential outcomes, and either one may be big.

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What say you?

Wednesday's performance was impressive, on the weighted scale, .87% of the index's 1.07% gains came from the Top-10. Still, this wasn't the fairy tail reversal day I would have liked to have seen, with only 46% of the Index’s 503 holdings closing positive on the session.

In short, (from this perspective) it was a large-cap weighted rally where 90% of the Top-10, 60% of the Top-50, and 52% of the Top-100 closed positive. Of course it doesn’t imply the index ...

If you enjoy "get me out at any price" mornings, followed by "fear of missing out" buying in the afternoon, Wednesday was the day for you. The Dow saw a 900+ point positive reversal and losses of 1% to 2% turned into 1% to 2% gains in many indices. Bond yields fell early but bounced back as stocks rallied. The positive outside reversal day is a bullish development for stocks.

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The Dow was down modestly yesterday, and small caps were flat, but the S&P 500 and Nasdaq added onto Monday's rally yesterday with decent gains. There are a lot of catalysts this week, as there always seems to be, so a 2 day bounce after a pullback could easily get tested today. Bonds were up as we saw new lows in the 10-year Treasury Yield.

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