Day Three Of Gains After Testing Support Last Week

The markets added to their rebound-gains with all of the major indices closing up for the third day in a row.

As you know, I believe we just might have seen the lows of this correction last Friday, after successfully testing trendline support (not to mention the 200-day moving average), and then rocketing higher.

Since then we've strung together three days in a row of higher prices. And I think we have plenty more to go.

In other news, yesterday's Redbook numbers showed y/y retail sales came in at a healthy 2.8% pace. That was down a bit from the previous month's 3.0% pace. But was a fine showing nevertheless.

And the NFIB Small Business Optimism Index came in at 106.9, up 1.9% from the previous month's 104.9, and 1.3% above the consensus for 105.5. Analysts noted that the component gauging small business owners outlook for expanding their business registered at the 'highest level for this component in the history of the NFIB survey'.

That's a pretty solid testament to the optimism in the economy right now. And, of course, for small businesses.

It also fits in well with my view that small-cap companies will be the leader in the market's next leg up.

Make sure you're taking advantage of this rebound. And get ready for the next move to new highs. There's bound to be more ups and downs before that happens. But get your watchlist in order and make every day count in this historic bull market.

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research

Sponsor

10 Stocks to Buy Now for Double-Digit Profits

Over the last seven years, we've racked up 129 double-digit winners like 85% in Ariad Pharmaceuticals, 50% in LinkedIn, 75% in Westport, 56% in Exact Target, 55% in Dealertrak Technologies, 50% in HomeAway, 73% in Gilead Sciences and more. That's like locking in a double-digit winner every single month. And now I'm releasing my hand-picked list of the 10 best stocks for 2018. It's yours FREE for the next 24 hours. Find out which stocks we're buying now for double-digit gains in 2018.

Get their names here.

Add Value to Your Investment With These 4 Low P/CF Stocks

When it comes to the investment market, experts consider value style as one of the most effective approaches. Read More »

5 Stocks to Buy on Massive $1.5-Trillion Infrastructure Plan

Courtesy of the all-inclusive infrastructure bill, for the first time in the history of the United States, investing in stocks related to infrastructure is a smart option at the moment. Read More »

How to Uncover Institutional Buying

Very few things can move a stock more than institutional buying. Read More »

These Reports Will Dictate the Market's Direction

Several key reports will give direction to the market sentiment this week. Read More »

This Week's Most Amazing Earnings Charts

It's not easy to beat on earnings nearly every quarter for 5 years but these companies are doing it. Read More »

Sponsor

Free 7–Day Access to All Zacks Trades

You're invited to follow all our private buys, sells, and market insights in real time for the next week absolutely free.

No cost. No credit card. No commitment whatsoever.

This unique 7-day "test drive" is the best way to sample the power of Zacks portfolios that beat the S&P 500 last year – up to 2.3X over. Deadline to get started: Sunday, February 18.

Click now to start your free access >>

Bull of the Day: Foot Locker (FL)

This footwear and athletic apparel retailer is looking to bounce back strong. Read More »

New Zacks Strong Buys for February 14th

Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »

Terms | Privacy | Unsubscribe