Thursday Morning Update

The rally continues, now well past my target at 1307, with no resistance in sight. I now have a pivot point projected around 1313, which might be good for a pause. There was a big drop in unemployment claims this morning, which might be a large part of the reason for this rally, and CPI came in at 0%, which nobody in their right mind believes. Among the sectors we have XLF and XLK leading, XLB and XLU lagging. The Nasdaq is leading, the Russell 2000 lagging a bit. Oil is up, gold down, treasury yields up.

I have 131 new highs so far, with breakouts in WINA, HNP, and GMT. I have NVEC reporting last night, and is down 6.2% today. I have CBST and EZPW scheduled, but it appears they are both reporting after the close.