The S&P 500 is recovering from today's premarket slump nicely, fueled by high yield corporate bonds (HYG ETF) regaining footing. HYG:SHY is rising, while LQD:IEI is more or less at yesterday's closing levels, and PHB:$DJCB refusing to decline much more intraday. Such a constellation is conducive to stock gains, and they are taking a cue.

Led by the financials, the stealth bull market trio (energy, materials and industrials) aren't willing to extend recent declines today in the least. With tech and consumer discretionaries near their earlier highs, the table is set for more gains â€" especially once healthcare joins.

All in all, our profitable long position remains justified.

Thank you and have a nice weekend.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.