RALLY HATS

Looks like the equity rally is back in place as the markets rally led by the small/mid caps.

The DJIA is +88, NAZ +23 and SPX +11 while the recent under performing RUT/MID are both up well over 1% and significantly out performing the bigger indexes.

Strong sectors include silvers, gaming, brokers, exchanges, airlines, small cap growth, metals, real estate, trannies homies and biotechs. The lagging sectors include drugs, banks and utilities.

Key stocks mainly green led by BAM FLA MS MER GS CME ICE BOT ISE AAPL INTC BIDU CSCO GE VLO TSO MRK GILD AMGN MGM WYNN LVS and INFY. Lower are PG GOOG NYX and TIF.

Biggest winners include BWLD WFR DWSN UCTT ICE S BNI TWX GM CSCO XRAY FAST WYNN TLAB CHRW and NIHD. Leading lower are GRMN CTSH LOGI SYMC BEAS NVDA SNDK WFC IBM HWCC ROCM GMR BTJ PTNR and ACH.

Market internals super strong with a net 1,660 green on the NYSE and 1,200 net green on the NAZ.

All the major index internals are close to 9/1 green to red with the NDX doing the best.

Volatility indexes down in the mid 12 area so no signals there yet as the SPX starts to make the anticipated run to the old highs (1,527 close, 1557 all time).

My suggestion, be long some futures as I anticipate those SPX highs to be taken out before long.