Friday Morning Update

The overdue pullback appears to have come, and so far it's playing along right on script. 1336 is the support level and also the low so far today, and this pullback looks like it is going to be just like the others - a buying opportunity. All the sectors are red right now, with XLP and XLU the least red, XLB and XLI the most. The Nasdaq is about even, the Russell 2000 is lagging. Oil, gold, and treasury yields are all down.

I have 38 new highs so far, with breakouts in CIE, AAN, MPWR, VPFG, and BGMD. Reporting last night were ASEI, up 8%, DCT, down 2%, and STMP, down 2.8%. This morning I have IPGP up 7.4%, and LYB down 0.4%.