And With That Development, the GOP Should Fire the Dem Senate Parliamentarian
Top Dem Answered Questions About NYC's Lunatic Mayoral Candidate in Predictable Fashion
Wow: Liberal Wisconsin Supreme Court Hands Dems a Major Defeat on Congressional Maps
Here's What the Trump Administration Plans to Do Once Kilmar Abrego Garcia Is...
They Strip-Searched, Shackled, and Detained This Grandmother – They Had the Wrong Suspect
Top Putin Ally Backs Off Claim That Russia Could Supply Iran With Nukes...
Precision Over Panic: Never Underestimate American Lethality
Another Company Chooses to Invest Stateside
China Plays Dirty in Rare-Earth Magnet Trade
Radical Leftist Congressman Doubles Down on Profanity-Laced Insults Against Stephen Miller
New Poll Gives Swing State Governor Some Bad News
Unmasked: Former High-Ranking NYS Employee Indicted for COVID-19 PPE Fraud
'This Is Bulls**t': NSF Employees Protest HUD Relocation
Homan Won’t Let Far-Leftist Running For NYC Mayor Keep ICE Away
Democrats Rush to Support LaMonica McIver As She Pleads 'Not Guilty'
OPINION

Large Caps Lead S&P Rally

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Richard Drew, File

This is a great way to end a two-week period of wild gyrations which shook out a lot of weaker hands.

The S&P 500 rallied after forming a reverse head and shoulders formation, which is one of my favorite formations and overwhelmingly bullish.

Advertisement

Leadership is still with large caps. Part of the problem with growth stocks is weakness in Communication Services (XLC) because of Facebook (FB), and to a lesser extent other names that could be facing regulatory scrutiny.

Earnings shifted away from financials. Next week we will hear more about supply chain issues, etc.

Now that the S&P 500 is back above its 50-day moving average, the next test is forming and breaking out through a double top.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement