Near term, expecting better from financials, airlines, cruise lines, energy and “stuff!” There is no leadership there…just recovering action. But we must state the pullbacks were tight and yesterday was constructive. Trade-able yes…invest-able…not so sure. The bond market looks lower, yields look higher. This will give impetus to these areas to move higher.

XOM kicked out of DOW. HON goes in. HON is 4x the price thus 4x the potential DOW movement.

RTX kicked out of the DOW. CRM goes in. CRM is over 3x the potential DOW movement.

PFE goes out of the DOW. AMGN goes in. AMGN is 6x the potential DOW movement.

AAPL doing a 4-1 split. Currently $500 so goes down to $125. It will now have 1.4th the potential DOW movement.

The DOW people do not have the greatest track record. The names going into the DOW will have gaps to the upside today.