U.S. stock indexes padded their cushions above the 50-day line Monday, even if the day's leadership was mostly from laggard groups.
XThe Nasdaq climbed 0.6%, while the S&P 500 added almost 0.4%. The blue chip Dow Jones industrial average inched up less than 0.2%. Small caps led as the S&P 600 advanced 0.7%.
Volume fell on the NYSE but rose on the Nasdaq, according to early figures.
Small caps rising included Cooper Tire & Rubber (CTB), up 7% but still 25% off its high; Olympic Steel (ZEUS), up 7% and only 7% below its high; and smart home software developer Control4 (CTRL), up 4% and 8% under its high.
Tires, metal products and media software all have six-month relative strength ratings that are either low or middle of the pack. IBD ranks 197 industry groups each day for six-month relative price performance.
On the price-weighted Dow Jones industrial average, Boeing (BA) dropped 0.5%, but Goldman Sachs (GS) rose almost 0.8%. Overall, winners in the Dow led losers by a 3-to-1 ratio.
Former leader Chipotle Mexican Grill (CMG) popped 2% higher in volume 30% above normal. Chipotle is only 1% off its high. Investors shrugged off recent reports of hundreds of people getting sick. Health officials said tests for E.coli, salmonella, norovirus and shigella bacteria came back negative.
Chipotle's stock has been rising after three waves down. But the stock has yet to form a valid base.
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