Thursday Morning Update

The market seems a little tentative about approaching last week's high, although I suspect ultimately it will. Yesterday's move up was one of the strongest in the last 10 days, and it should come as no surprise that we take a slight pause today. This morning the leading sectors are XLE and XLK, lagging are XLV and XLY.  The Nasdaq and Russell 2000 are both leading big. Oil is down, gold up, treasury yields down.

I have 178 new highs so far, with breakouts in MTSN, CNQR, CDNS, DVAX, ZNGA, QCOM, and LVS.  I have a busy day on the earnings front: from last night ALGT down 2%, CMG down 1.4%, HWKN down 1.8%, ININ up 0.8%, LVS up 1.6%, and NEU down 9.5%.  Scheduled this morning are ADS up 1.1%, BOFI up 0.06%, EXP up 5.1%, IVC up 0.8%, NVLS up 0.2%, and PHM 0.1%. Some of those might not have actually reported yet, I will verify that later this morning.