Omicron Variant Fails To Derail The Market

I'm cautiously loving today's action, as news of a second Omicron case in the United States didn't derail the market. In fact, it might have helped, as it appears the person is already on the mend.  Note: the Minneapolis man was just at a convention in NYC, so maybe the travel ban stuff is too little too late #Justsaying.

I'll feel much better when the S&P 500 is above 4,655 and NASDAQ above 15,622.

The big "winner" today is the Russell 2000, which has so much work to do, but it is bouncing off a double bottom and leading all the major equity indices.

To see the chart, click here.