However, keep in mind that the market likely is experiencing a bear market bounce rather than the start of a new long-term uptrend.
Tuesday's rally was welcome and has provided the bulls with an opening based on fear of missing out, but we're far from a new bull market.
I'm also watching the ARK Innovation ETF and SPDR S&P Biotech ETF for trades there.
The same can be said of cannabis stocks as fresh talk of federal legislation to legalize marijuana likely is just that… talk.
Many investors and traders do not fear missing out on the next rally, and that's preventing positive momentum from building.
The momentum-investing community needs to pay heed to what's next for their first and most faithful loves.
Until then, this trader will spend most of his time sitting on his hands.
With the June inflation report near and earnings season kicking off this week, there are reasons to tread carefully if you're inclined to be bullish.
And if you're inclined to trade the price action, keep your approach to trading simple; here are a couple ways to do it.
While Thursday's rally was really nice to see, it was on lower trading volume than the day before - just sayin'.