A Market of a Different Flavor

With Treasuries selling off this morning, it is not all that surprising that stocks continue to push higher. The S&P 500 and Nasdaq Composite are teasing us with by peeking about their psychologically and technicall-signficant 1400 and 3,000 levels, respectively. Underneath the surface, the retail sector appears to be the leader this morning, along with energy stocks. With a rising 50 day moving average on the indices now, it seems like being a fierce bull is the way to go. However, as you can see below on the retail ETF sector chart, the coast is not yet as clear as I would like it to be for me to be close to fully invested. That said, I am net long and open to the idea of further improvement. I am looking to see how the S&P and Nazzy react to these major levels throughout the session.

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