A strong start for the markets as they were able to extend previous day's impressive performance in early action with Financials again pacing the way. The follow through gains brought resistance for the S&P at its early month gap at 729/734 into play which also lined up with a roughly 10% jump off of Friday's intraday low. The market averages pulled back slowly but steadily into early afternoon trade but pressure was relatively limited. Gold was up 5% as it tried to rally off of the lower trendline. $USD confirmed yesterday's hanging man with a close just below the 20 EMA.Economic Calendar: initial claims, retail sales in pre-market and business inventories at 10:00 EST.
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