Complete Wednesday Game Plan

Markets rose Tuesday which is almost a guarantee as it has done so for 18 consecutive times in a row. The S&P 500 played the leading role today gaining more than 1%, outdoing the Nasdaq’s .7% advance. Perhaps the S&P 500 is in no mood to relinquish its lead over the Nasdaq YTD. Going into today the S&P 500 was up 14.6%, and the Nasdaq 13.9% but furiously trying to close the gap. Breakouts were recorded today with one of the prettiest being KSU’s 112.35 flat base trigger today. The transports have played a vital role in this moving this sparkling rally right along, pun intended. One group losing its luster, not gold, is the utility sector. After a 15 week winning streak the XLU, lost ground the last 2 weeks giving back about 3% in the process. They happened to be two of the highest weekly volume moves of the year. The ETF has found 50 day SMA today. Perhaps the fact that unemployment still being elevated, GDP still very tepid by historical standards, is the reason that so many are waiting for the 5% pullback or more. They are some very patient people. Perhaps to a fault.