Darned thing won't come in. Total coiled spring.
I see three groups rallying.
First, the S&P program names, like 3M (MMM), Johnson & Johnson (JNJ) and Boeing (BA).
These stocks will give up those gains the moment those who are short the S&P 500 are finished covering.
Second group? Retail. This group's been under pressure because of the sea change out of domestics and the higher gasoline prices. It got oversold. But there won't be staying power here either if oil goes higher, although I was encouraged by the reaction to the Bojangles (BOJA) IPO today.
Third: Tech, and this group's got some serious wind behind its back now that Qorvo (QRVO) and Tableau (DATA) reported. That means connectivity -- the essence of Qorvo -- remains on fire. It means mobile is still strong. It means Apple (AAPL) is doing incredibly well.
Tableau gives you the green light to buy all the data-mining Internet of Things stocks. Tableau's the best at it, but it does mean that Qlik (QLIK) and Splunk (SPLK) and ServiceNow (NOW) can keep going higher.
I think it's an impressive relief short-cover rally, but not much more than that for most stocks.
That's why it's not worth chasing.