The action of the open was much different than past mornings. It was not slow to drift lower--it just came off pretty easily and was showing no resilience. Given this action, the large gap up, and the fact that it is now up four days in a row, I'd expect it to come off a bit and extend this slide.
Oil's drop is providing some fuel to the broad market's rally, but it's not moving too strongly upward. Retail is up off of a strong quarter from Tiffany's (now up 10% plus). Other retail reports from companies such as Men's Warehouse are being looked in a favorable light as well. That stock is up to over 21 bucks currently, a 6% gain. Those stocks seem strong, but we'll have to see if they can hold their gains.
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