We head into the second half of the session with a market rally on our hands. The Dow Jones Industrial Average (DJIA) has backed off its earlier gain of 360 points but is still up more than 200. This adds to Friday's gain of 494 points. However, the S&P 500 (SPX) and Russell 2000 (RUT) are the strongest broad market indices with gains near 4%.
The sector view looks relatively healthy with widespread buying. The iShares Treasury Bond (TLT) is the only decliner and the rest of my list is higher with gains starting at 2%. Financials, housing, gold stocks and energy-related stocks appear to be the strongest. The Broker/Dealer Index (XBD), Regional Bank HOLDRS (RKH), SPDR Homebuilders (XHB), Amex Gold Bugs Index (HUI), and PowerShares Clean Energy ETF (PBW) are all up more than 8%.
Chart Courtesy of Thomson Financial
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