BIG MO

The markets have gotten a boost (temporary?) from the Court ruling on the Engle case in Florida. MO is flying to a new all time high in the 78/79 area and folks are saying that the company can now be busted up and the true value can be realized. That may very well be true but I think market bulls ought to be watching the QQQQ and the TECH/SEMI space as it continues to act poorly in relation to the Major Market indexes.

Strongest sectors today are the metals, drugs and bios. Market internals continue to act well with 1,300 more winners than losers. Also keep in your front view the fact that the SPX is sitting at its 50 day (downwardly sloping?) SMA and tomorrow is Jobs news day.