4-18-12 morning comments

The action of leading stocks this morning leads me to think the risk trade may be back on. URI, ISRG, FRAN, WYNN, SXCI, TIBX, STX are up on large volume. AAPL continues to rise on above average volume. Today is day-6 rally count on the S&P500 and NYSE Composite. It is day-2 on the NASDAQ. The Market Exposure Model is at +1 (30% invested) on the NASDAQ so technically we don't need a new follow-through day to take advantage of strength if it shows up. Today could easily produce a B6 (lows above the 50-day) buy signal on the NASDAQ bringing the count to +2 (55% in). The intraday lows need to stay above the 50-day and we need a positive close on the day for this signal.