Markets put in a good showing for the second day in a row as the leading Nasdaq powered higher by 1.2% to go out on highs for the session. The tech rich index was set back Monday at the round 4300 number, but that was not the case today. The S&P 500 finished on highs for the day both Monday and Tuesday. If you want to find some bearishness for the day volume was not robust as you would like to see, and the small cap S&P 600 lagged a bit. But the price action has to be respected, especially in the wake of Russia moving into Crimea. Not sure how the old adage goes, but I think it goes something like buy when the first shots are fired. Perhaps thats lifts the uncertainty around the situation, but this should not escalate into warfare. Other events that put on a bullish tone to the session was NUE rising even after guiding Q1 earnings below estimates. The stock however is far from out of the woods as it was stopped at its 50 day SMA today and the round 50 handle. Barclays came out with some positive notes on the ailing retail sector. Names like RATE GIII JWN were upgraded and I can understand that. JWN has put on a handle in its double bottom base with a pivot point of 63.09. They added some dogs to the list however like PVH COH RL. Lets see where these names end up in 6 months. I bet the laggards continue to falter. As always buy strength.
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