Here Come the Sambuca Shots

After several green opens in a row, as several major indices make fresh all-times with each push higher, the market is flattish as I write this with the look and feel of a general digestion day. 

Given the pronounced reversal off the Brexit aftermath a few weeks ago, which may as well have been an eternity, welcoming a digestif should be part of any reasonable bull's game plan. The critical issue to assess is how well the market can now maintain its recent gains, all the while we see continued impressive action below the surface. As long as that type of scenario plays out, it is going to be difficult to become proactive based on any type of bearish thesis. 

At the moment, I see some long-term laggards like FEYE GPRO SHAK catching bids, which shows at least some wherewithal by bulls to dig deep for a potential broad-based rally for the rest of 2016. Bears will counter that this type of action is consistent with frothy markets before they crack, but as we know those of the ursine variety have yet to follow-through on even the very best of setups and potential topping patterns. 

So until they do, we are scouting the tape with Members for fresh, opportunistic rotation ideas with today's Sambuca shots being passed around for digestion purposes.