Today the roles are reversed, the Nasdaq Composite is in the lead, up 0.6%, while the Russell 2000 lags the most, down 0.37%. The S&P 500 hit a fresh intraday all-time intraday high at $5,878.46.

Action comes with mixed breadth as decliners outpaced advancers and new highs outpaced new lows.

Only three of the eleven sectors are in the green today. Technology (XLK) is in the lead driven by strong performance of semiconductor companies such as Broadcom (AVGO) and Nvidia (NVDA), following Taiwan Semiconductor Manufacturing Company Limited (TSM) quarterly results. Taiwan Semiconductor Manufacturing Company Limited (TSM), the world largest contract chipmaker, reported earnings that beat estimates on both revenue and income. Real Estate (XLRE) is the biggest lagger of the day, down 0.6%.

Today, the Fear and Greed Index moved closer to the edge of Greed and Extreme Greed.

On the economic front, September industrial production changed -0.3% m/m vs. -0.2% consensus and +0.3% prior.

National Association of Home Builders (NAHB) Housing Market index rose to 43 from 41 in September, surpassing consensus of 42. Most categories improved with future sales seeing a big jump.