No question about it the trend is bullish. If you’re a trend follower, and we are, you have to go with it holding our nose but still stay long.

Economic data in the U.S. included an unremarkable decline in Construction Spending (0.6% vs prior 0.07%); weakness ISM Manufacturing Index (50.1 vs prior 50.2); and, PMI Mfg Index rose (54.1 vs prior 53.1). Meanwhile UK Mfg soared but Germany, France and Spain showed either flat or little growth. China Mfg shrunk once again with economists suggest more interest rate cuts must be on the way.

U.S. markets were very strong with only bonds and commodities weak. 

Market sectors moving higher included: Most everything.

Market sectors moving lower included: Bonds (TLT), Corporate Bonds (LQD), Crude Oil (USO), Gold (GLD), Silver (SLV), Natural Gas (UNG) and a handful of others.

The top ETF daily market movers by percentage change in volume whether rising or falling is available daily.

Volume was quite light given the move and breadth per the WSJ was positive.

Gains were impressive despite weak trading volume. This is the season one would think even though it seems early.

Tuesday will feature Factory Orders, not that good or bad data matter these days. And, let’s not forget the all-important Employment Report on Friday.

Let’s see what happens.