It was the first time since 2021 that four major equity indices finished at all-time highs:

1. S&P 500
2. NASDAQ
3. Dow Jones Industrials
4. Russell 2000 (up seven straight weeks for the first time since 2020)

Tech Leads the Way

Haven sectors mostly stumbled and finished lower, while Technology (XLK) surged ahead on the Intel (INTC) news and other big moves in cybersecurity stocks.

Nine of the ten top advancers were all in the tech sector, with one (COIN) in the Financials (XLF) sector.

Heat Map & Breadth

There were intriguing declines, including Visa (V) and Mastercard (MA), while Circle Internet Group (CRCL) surged.  The stablecoin era and its disruptive ramifications for traditional banking are clear.  It's why Coinbase (COIN) also surged on the session.

NASDAQ Rocks

Market breadth was very bullish on both the NYSE and NASDAQ, but the latter is a juggernaut. Advancers almost tripled decliners, and the up volume was more than three times the down volume.  Meanwhile, new highs on the NASDAQ reached 397, while 60 new lows were reported.

Market Breadth	NYSE	NASDAQ
Advancers	1,757	3,232
Decliners	1,020	1,371
New Highs	143	397
New Lows	29	60
Up Volume	2.63 billion	6.81 billion
Down Volume	1.43 billion	2.38 billion

Small Caps Coming Up Big

 

Small caps are emerging as significant players, and WSS has secured most of the top names this year across one or more services (limited by price and volatility risks).  We will continue to dive into this nutrient-rich area for fresh ideas.

Today’s Session

Futures are looking to open in the green across the board.

Today is a Triple Witching session, it means stock index futures, stock index options, and stock options all expire on the same day. This can increase trading volumes and cause more volatility.

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