Markets extended their winning streak with the Nasdaq recording a bullish outside day and now up 6 straight sessions. The leading tech index is up a very nice 2.7% for the week thus far. I am not making any predictions, but a 20% advance from here (Nasdaq gained 37% in 2013) would put the Nasdaq within a sniff of its all time highs of 5132.52 The S&P 500 bounced right off 50 day support today and if not a for a fractional loss Wednesday it would be up 6 for 6 too. Going into Friday it is up 1.8% for the week. As the benchmarks continue their impressive moves higher it often pays to identify which groups have been strong, and which ones are receiving the rotation into them. Currently that would have to be the financials, the semiconductors and energy. In the semi space you have your strength in common names such as QCOM MU XLNX AVGO, but newcomers are helping the group as well. INVN NXPI AMBA fit that bill. Old names like AMAT soared today above an 18.18 double bottom pivot point gaining 5% after reporting after the bell last night. Others like KLAC that we profiled earlier in our Game Plan this month with possible support at its 200 day SMA would hold, has now ran up 8 straight sessions and is near a 64.75 double bottom trigger. Perhaps even more important is to look at where the smart money is doing and in this group there is recent merger activity. A good sign companies are seeing value. Last week ENTG after announcing an acquisition of ATMI. This Monday MCHP did the same with SUPX.

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