The guessing game continues as the latest Federal Reserve meeting minutes were released Wednesday at 2pm EST. This market continues to rebound after last week’s selling. It is intriguing the market was selling off all week long ahead of the attacks in Paris just a short time after the US markets closed. NASDAQ volume was higher on the day, but NYSE volume lagged and fell behind Tuesday’s level. It is clear where the leadership lies and plain as day it’s the NASDAQ 100. The index was nearly up 2% while every other index lagged at least 20bps behind. Small caps continue to lag and it’s a clear indication institutions are piling into large cap technology stocks. Our uptrend is alive and is being held up by the big boys.

It was clear after the Fed released its minutes traders were loving what they were reading. The market’s steadily climbed higher as more and more money piled into NASDAQ 100 names. It is no wonder the QQQ tracking ETF continues to be the top performer. At this stage in the game it would be surprising to see Small Caps play catch-up. It is almost too late. Stick with the trend and right now everything is pointing up for this market.

So many continue to try and knock down this market. We cannot say if it is still the most hated market, but we can tell most do not trust it. The four horsemen continue to act strong. FB, AMZN, NFLX, and GOOGL all continue to perform well. MSFT continues to hold its earnings game and is certainly trying to break into the group. We can sit here and hammer away at falling revenues, stock buybacks, and valuations. At the end of the day however, does this help us beat the market? No.

Stick with the process and move forward. Cut your losses short and ride your winners. Control exits and position sizes in order to minimize the risk of ruin. Do these things and you will win.