This market is rallying right now, mainly because of five stocks. Six if you want to throw Netflix (NFLX) in there too. These stocks have a huge sway on the overall market: Amazon (AMZN), Facebook (FB), Alphabet (GOOGL), Apple (AAPL) and Microsoft (MSFT).
You'd probably expect that there'd be more tech stocks on the list, but I've had to take so much of them off the list because they have gone straight parabolic over the past week. Many of which have seen gains of over 20%.
But that is the kind of lunacy we have seen in this market of late. Every index is trading higher, yet the bears still hold a 3:2 edge on declining issues over advancing ones. $VIX has tumbled off of its highs, because volume levels on $SPY is only 1/2 of what we saw Wednesday through Friday of last week.
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