The market jumped out the gate with some vigor and more confidence than we’ve seen in a long time in part to the non-disastrous jobs report from ADP and stronger-than-expected sales at Costco (COST) which is an effective proxy for the United States economy. 

• Overall sales in the past four weeks of $11.3 billion +3%
• Same store sales on constant currency basis increased 3% the Street expected a decline of 1.5%.

Shares of the big box retailer are breaking out and heading toward their all-time high established last December.   Despite strength on several blue chip names the market has given up gains and now appears to be marking time.