1. Equities woke up today as commodities and commodity (XME +3.1%) / material (XLB +2.6%) related stocks rallied.
Home Builders (ITB +4%) caught a bid on good earnings (DHI +6.6%) and strong housing #’s
2. The buying spread to Banks (KBE +1.7%) and Semis which were strong SMH +2.0%
3. Small Caps (IWM) also joined the party and caught fire to end +1.5%. This is a good sign considering their recent weakness.
4. Option flow picked up as well seeing a good amount of risk taking.
5. Earnings will pick up for the rest of the week so buckle up!