Equity Roundup, Extending Highs, SPX Through May 31 Resistance

Stocks stronger -- holding narrow range since gap bid following July CPI read - flat for the month, Core inflation climbed 0.3% MoM, 5.9% YoY; energy prices tumbled 4.6% in July while owners' equivalent rent measure of housing costs surged 0.6%.

Currently, SPX eminis trades +79.75 (1.93%) at 4204.0; DJIA +550.21 (1.68%) at 33326.37; Nasdaq +308.1 (2.5%) at 12802.77.

• Technicals: SPX eminis delivering fresh trend high print of 4211.50, reinforcing short -term bullish conditions. Continued gains maintains positive price sequence of higher highs and higher lows. Focus now on 4306.5, May 4 high after breaching 4204.75 resistance/May 31 high last few minutes. On the downside, initial trend support is at 4080.50, the Aug 2 low. The 50-day EMA intersects at 4008.43 - a key support.
  
• SPX leading/lagging sectors: Materials sector outperforming (+3.19%) lead by Sherwin-Williams (SHW) +5.64%, PPG +4.65%; Communication Services +3.07% lead by interactive media and services providers: Meta +6.02%, Match Grp 5.42%. Laggers: After three consecutive session gains, Energy sector slows (+0.27%), Utilities (+0.37%, Real Estate (+0.82%).
  
• Dow Industrials Leaders/Laggers: Goldman Sachs (GS) +10.27 at 346.89, Microsoft (MSFT) bounces +6.11 at 288.41, Home Depot (HD) +5.95 at 311.16. Laggers: Chevron (CVX) -0.36 at 155.05, Merck (MRK) -0.26 at 89.26, Verizon (VZ) +0.09 at 44.77.