After the events in Paris this market could have easily headed lower on fears of more attacks. There were plenty of stocks sporting big volume bars today despite overall volume light compared against Friday’s level. The market at the open did hit daily extreme oversold territory. By the afternoon, it was quite clear there would be very little to hold back this market. It will be nice to see the market add to its gains and have volume expand. We would finally see much needed accumulation from institutional players. Today’s scans revealed 3 new longs! While we had sell triggers last week it was good to see a few buy signals come across from our screens. A solid start to the week, but we need to see some immediate follow-through to have confidence in this market.

At this point only a major distribution day could kill this uptrend. It would also be a bit disappointing if we do reverse lower. Given how the VIX was slammed today it does not appear market participants are expecting the coming month to be volatile. Seasonality is also in our favor. How many market crashes occur in November? Sure, December we could see this market top out. However, November is not usually the month where market tops are set. Avoid the pitfall of even trying to call a top all-together. Stick with the trend and work a sound money management strategy.

Stocks like AMZN, FB, NFLX and GOOGL continue to act well. For a lack of a better term these are our four horsemen of this rally. Now, they may not rip off 100% gains in a month or two. However, they are a great barometer for this market. As these stocks go so does the market. Keep an eye on this guys.

Let’s see how this market progresses here. Price is everything. Follow it.