Stocks had quite a week! While the S&P 500 ($SPX) started the week challenging $2090, it ended the week sky rocketing above $2115, hitting an all time high of $2123.80 in the process. These all time highs can make traders pause. But if the market wants the momentum to continue, we will need to see small and mid-caps ($IWM/$MDY) take that leadership role.
Small and mid-cap both performed well last week, with Russell ($IWM) gaining .82 percent and the S&P mid-cap ($MDY) advancing .88 percent. What I like about the performance was the fact that both outpaced the Dow Jones ($DIA) +.57 percent, and the S&P 500 ($SPX) +.39 percent.
This is the catalyst and leadership that I am watching and would like to see continue if new highs are going to be made. Have a great trading day and check out our Mid-Talk today at Noon Central with Joe Cusick from Tradingblock.com. We will cover the state of the market and walk through a couple of set ups for the week.
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