It’s easy enough to make the argument that the stock market might be overdue for a pullback, but that might be the very reason why the market could continue to move higher… 

After months of tracking very closely with one another, the Nasdaq is pulling well ahead of the S&P 500 and the Russell 3000… 

Investors continue to accept more risk for more reward, and this is evident top down with the DJIA trailing considerably behind the Nasdaq and S&P 500… 

What do paper towel and dish detergent stocks have in common with Silicon Valley stocks? Both industries are sporting stocks that are moving toward, or into, 52-week high territory. 

Buying could be starting to move into the fever-pitch phase, especially for growth generally and technology specifically following yesterday’s Fed announcement… 

I’ve made the point that choosing the technically best-class stocks from a number of leadership categories, and emerging leadership categories, can yield better results than the major market indices themselves. 

The recent record-high feats in the S&P 500 and Nasdaq have not promoted indiscriminate or speculative buying to any significant degree; if anything… 

With their recent breakouts into record territory, the S&P 500 and Nasdaq have completed their cup-and handle formations. This is significant because these formations, historically, indicate durability, elasticity and sustainability of a trend. 

Gene Peroni’s Daily Podcast: Yesterday’s breakaways in the S&P 500 and Nasdaq completed cup-and-handle formations for those two indices. 

The Dow did not check all the technical boxes in last Friday's surge.