Strong action out of the gate with the three major indices on track to end the week on a positive note. Despite a hot jobs data, the market is celebrating. The report saw revisions that brought the three-month average down to 222k added per month vs. 295k at the end of March, and close to 320k at the end of February. This is a downward trend that the market seems to celebrate.

Also, regional banks are rebounding after their steep selloff and holding on to earlier gains.

The Energy sector is the best performer, as oil prices are sharply higher today. Apple’s (AAPL) outperformance following its earnings report is making Technology one of the top performers.

The S&P 500 broke above 4100, but only 47% of S&P 500 members are trading above their 200-day moving average. We want to see this improving for the rally to be durable.

Have a great weekend.