MARKET WRAP/PRE MARKET

Very nice reversal yesterday with NASDAQ/NDX leading. Even when DOW was down 300, the NASDAQ/NDX hardly budged. As soon as DOW started rallying, NASDAQ/NDX got going. Very narrow but what is working…is working.

Watch OILS here. XLE, XOP firmly above the 50 day with OIH opening above this morning. Under-owned and under-loved.