It was a party yesterday; every stock was invited, and just about every stock answered the call. Market breadth was extremely bullish—check out the up-to-down volume on the NASDAQ Composite.

And now, extreme greed isn’t so far away.

The Volatility Index (VIX), aka the Fear Index, gapped lower to 18.38, down 69% from the spike at the start of the month.

Sector performance was lopsided, as havens barely eked gains or, in the case of Utilities (XLU), finished in the red.

Ironically, a member of the Utilities was the top performer. NRG Energy (NRG) is bulking up to compete in the Data Center race.

It was another eclectic session among the biggest advancers.

Small but Mighty

Small-cap revenue, value, and quality surged ahead of other market factors, although all 21 fetched bids during the session.

Today’s Session

The doom & gloom crowd lost again, and the reports and predictions of the death of America and American Exceptionalism has been premature.

The CPI report came in better than expected, which means the surge in inflation still isn’t evident in official data.

The news in the market probably needs to be digested, and 5,800 needs to be established as support.