An Interesting Squeeze

Extreme strength in the large cap industrials, namely BA GE MMM, is helping to propel the Dow Jones Industrial Average up 300 points as I write this. 

The nagging issues for the market, however, still remain in play, namely the small caps below multi-week resistance and the healthcare/biotech flashing red in many instances, today, with VRX still red and even market leader UA down more than 6% at the moment. 

Nonetheless, semiconductors, transports, and financials are also making a case for some type of rotation headed into the end of the month, and perhaps the end of the year. 

Despite the cheer brought about by the Dow rally, I am still not seeing a compelling amount of long setups for swings, but rather a plethora of names which seem hell-bent on squeezing shorts and/or filling gaps overhead. 

To circle back to the small caps, as long as the IWM holds below $116.15 I still suspect the market will simply flop around on a day-to-day basis. 

I will hit on more topics and ideas for Members in my usual Midday Video.