05Oct1:16 pmEST

Tomato, Tomahto, Record, Rekkid

Headed into the heart of the afternoon portion of today's trading session it appears we have an old-fashioned melt-up making place in the Dow and S&P 500, and the small caps continue to drift up.

Meanwhile, the Nasdaq's top 100 market-weighted ETF, QQQ, is just breaking out from a multi-month consolidation as Netflix shines on a price hike for customers. 

One of our Members noted that Carl Icahn's holdings company, Icahn Enterprises L.P., appears ripe to emerge from a multi-year correction. IEP actually topped out back in 2014 and, despite, Icahn's vaunted reputation on Wall Street, endured a nasty move down from just above $149 to a $49 handle. 

Now, however, the IEP daily chart is back over all major moving averages, seen below. Price is breaking up and out of a triangle consolidation and should be watched for further upside not just on this timeframe but also for major inflection point long-term. 

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