Another strong day for the big 3 indices, mostly due to run from big cap technology names like AMZN, GOOG, FB.
Besides few big cap names, there were some underlying weakness in many stocks. Specially small cap, IWM index was red for the day and closed below short term support 20 MA and look a bit vulnerable. Given big cap technology names like AMZN, GOOG, FB already had a big run and approaching some resistance, if there is no sector rotation into other names, we might see some weakness or choppiness in the market. Earning season is here , so we will be mostly focusing on day trading earning news related stocks in the chat room.
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