For most of the week, small-caps lagged, but a big move on Friday has all arrows pointing higher as we kick off a new week.

No Hitches

There was a time when a couple of big red boxes weighed down the entire market, but these days, those mega-cap names can be lower without affecting the giddy-up of the broad market.

Market Breadth

Market breadth was overwhelmingly bullish on Friday. This can be contagious.

All Systems Go

I'd like to see the Rate of Change (ROC) turn higher and move overall volume, but the market has broken out, and all systems look like a “go” to keep moving higher. The irony is the more confident the market and its participants are, the more significant the impact of disappointment. But these days, the media makes misses on data, and the developments seem minor.

We aren’t fighting the trend and won’t stop paying attention and being proactive.

Today’s Session

Equity futures are up slightly, but there is lots of activity in Technology (XLK) and Communication Services (XLC).  Meanwhile, VanEck Semiconductor ETF (SMH) is on the cusp of a major breakout that could set up a move to retest the all-time high.

Meta Platforms, Inc. (META) has fetched a new target at Goldman this morning. The analysts now see the stock climbing to $636 from the prior target of $555.