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Markets went out on their highs Thursday, after giving back some gains on the open late morning. The S&P 500 gained .75%, outperforming the Nasdaq .5% advance. That is in lockstep with what those benchmarks have been doing so far. The S&P 500 is just off its 52 week high, while the tech laden Nasdaq is 2.4% off its own 52 week high. Today brought some bright news with some solid breakouts among leading stocks. LNKD took out a 117.42 double bottom with handle trigger, GGC took out a 47.27 flat base pivot. BLMN took out a 16.89 cup with handle trigger, and CIB finally closed above its 69.60 cup base pivot. The moves with the exception of CIB came on bulging trade. The home building group lost ground today as DHI LEN MTH RYL all fell. The periphery plays however remain strong and today outshone the pure plays previously mentioned. WY rose for the 8th consecutive day, and has behaved very swimmingly since taking out its 28.62 cup with handle pivot 1/2. EXP recorded an outside day today as it hit multi year highs. LOW HD both have carved out flat base triggers. As prudent investors we shall remain bullish, but cautiously so. Two stocks that have my attention are SCHW AMTD. SCHW is comfortably above its 14.10 double bottom it took out on 12/18. AMTD is holding this 18 handle nicely. The positive action of these stocks suggesting the retail investor is joining the fray aggressively? The old aphorism speaks of the small guy getting jolly at tops, and frightful at bottoms. Could this be viewed as a bearish contrarian indicator?

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