After Thursday’s retreat, the market rally looked like it was ready to pause. But bulls want to run. The major indexes roared back Friday to above October highs. More leading stocks flashed buy signals, with Taiwan Semiconductor sales fueling chips. MercadoLibre is setting up after its earnings gap while General Electric is right around buy points. 

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Small caps lagged badly again and breadth was nearly 3-to-1 negative on both exchanges. The Nasdaq halted a nine-session win streak and marked a distribution day, its first since the Nov. 1 follow-through day. TJX held up well ahead of next week’s earnings report, while Palantir and homebuilder PulteGroup have been drifting lower in light volume.

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Stocks are continuing to pause, which is constructive. One area of potential concern could be the small caps, which posted an outsized decline even though the 10-year yield continued to back off. Axon stock broke out on earnings, while Eli Lilly jumped on drug approval news. Dell is continuing to hold in a buy range with a bullish relative strength line.

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Indexes took a pause on Monday but held on the gains of last week despite a boost in the 10-year Treasury yield. As for stocks, Dell broke out of a double bottom while Eli Lilly bounced strongly from its 50-day moving average line. XPO retook an old double-bottom breakout early last week and has slowly been adding to the gains.

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Indexes took a pause on Monday but held on the gains of last week despite a boost in the 10-year Treasury yield. As for stocks, Dell broke out of a double bottom while Eli Lilly bounced strongly from its 50-day moving average line. XPO retook an old double-bottom breakout early last week and has slowly been adding to the gains.

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The market had another huge gain, once again fueled by tumbling Treasury yields. The major indexes all retook their 50-day lines to cap a big week. DraftKings vaulted higher on earnings while Zscaler offered a bullish rebound as more stocks flashed buy signals. Nvidia moved above a key level.

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The market had a nice follow-up to the change in outlook Wednesday. Indexes saw broad gains with lots of participation. A number of stocks broke downtrends including Uber, Pulte Group, and Ferrari.

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The market rallied gained steam in higher volume as Fed chief Jerome Powell signaled no more rate hikes. Tech titans Microsoft, Meta Platforms and Amazon flashed buy signals.

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Indexes traded lower Tuesday morning, but reversed modestly higher, with the Nasdaq moving above the 200-day line. It’s still not a confirmed rally, with the Fed meeting announcement due Wednesday. Arista Networks and Cameco gapped up on earnings, while ELF Beauty plunged ahead of its results.

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Indexes started strong but started to look shaky shortly after the open. Still the recovery throughout the day didn’t necessarily breach intraday highs but closed on a better note. A number of stocks that were trading below their 50-day lines have now moved up above them including Meta Platforms and Ollie’s Bargain Outlet. Meanwhile, over in aerospace and defense, a strong relative strength line is leading FTAI Aviation into new highs.

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