Sell opening strength and buy early dip for a late day rally continues to work in the New Year. We also have renewed interest in financial shares. While we are overbought, the rallies had been small and are keeping us from selling off. We are already up 4% on the year and may inspire some performance chasing. With continued strength in financials and a long holiday weekend coming up, the bulls may keep pushing for the magnet at 1300 SPX. While it seems silly to throw caution to the wind, bulls are certainly keeping the bears off balance.
