Tuesday Morning Update

Just when it was starting to look like the rally was out of gas, it caught a second wind this morning. That puts us into a new range, with the top at 1305, very close to the pivot point (and my ultimate target) at 1307. Credit is being give to AA's earnings, which sucked but didn't suck as much as expected. Not surprisingly, XLB is the leading sector this morning, followed closely by XLF. Lagging are XLP and XLY. Both the Nasdaq and Russell 2000 have slight leads.Oil and gold are up, as are treasury yields.

I have an explosion of new highs, 160 so far, with breakouts in BNHN, VOXX, VRTS, CIE, and HNT. I have nothing reporting this morning. SNX from the earnings list will be reporting after the close.