We came into the week with Paris on fire and the United Kingdom in turmoil, yet the last 48 hours of trading has seen big reversals higher.

• France: CAC-40 +3.7%
• Germany: DAX +3.2%
• UK: FTSE +2.3%

Our markets got stronger after Europe closed and it’s being led by the same names that led the market lower. I said it would be the momentum names near term that lure investors off the fence. 

Communications Services

• Twitter (TWTR)
• Netflix (NFLX)
• Facebook (FB)

Consumer Discretionary

• Amazon (AMZN)

I also like that tech is finding new leadership in the absence of Apple struggles with Salesforce.com (CRM) and other software names setting the pace.

Those momentum names have the NASDAQ 100 rocking, up 5% from the low on Monday at 11:20.  The recent trend of lower lows is still in place but taking out key resistance levels will trigger more upside buying pressure.

Key Resistance Points

• 7,063
• 7,203
• 7,278

NASDAQ 100

The market came off all-time highs quickly and while rebounds take longer than selloffs, if you blink or fiddle your thumbs you could miss it.

Let’s hold off on forcing the issue.