Today was a 2% up day for the market clothed in a .5% gain. The heavily shorted names led the way with some energy sector names rallying another 10%+ on top of yesterdays strong gains.
A stock like $CRR is soaring, but still has a long way to go to even think about recovering the losses from record highs.
Almost a full four months into 2015 and the S&P 500 has yet to make a meaningful move to the upside. We currently reside at similar levels from the end of 2014. Imagine that. Four months of consolidation.
Prices have started to narrow and I think a big break higher is becoming more likely with each passing day.
One thing is for certain... the Dip Buyers remain on the ready to gobble up any dip this market gives. Today was no different.
Stock futures plunged after the Jobs report on Friday.
Today the market realized that bad is again good - It recovered Friday's losses and for good measure proceeded to rally an additional .6%.
It was the second consecutive Monday rally. Last Monday's rally was swiftly negated the following trading session. Will tomorrow see stocks suffer a similar fate?
S&P500 Futures RED Friday and GREEN Monday:
The market dropped again today, but it sure didn't feel like it. $TWTR, $SCTY, $Z, $DDD, $GOOGL, $NFLX, $FB, all rallied on a day when the S&P 500 and Dow Jones Industrial Average were down over .5%.
$TWTR brought home the bacon today as the stock soared over 6% sending the CALL holders home very happy.
