Yahoo Finance

The rally that started last Monday continued to crawl higher yesterday, with a few indices not far from their early December all-time highs. The last five days have seen strong breadth, with a number of internal measurements exhibiting breadth thrusts. Many times, this type of broad price action kicks off a new intermediate-term uptrend. On Tuesday, the S&P 500 (SPX) rose 0.9%, the Nasdaq and Nasdaq 100 gained 0.6%, and the S&P MidCap 400 and S&P SmallCap 600 both popped 1.6%. Broad-based strength resulted in nine of 11 sectors moving higher from 0.7% to 2%. Industrials led with a 2% gain, Real Estate was up 1.9%, Healthcare and Utilities rose 1.6%, Materials added 1.3%, Communication Services and Information Technology tacked on 0.9%, Financial increased 0.8%, and Consumer Discretionary popped 0.7%. The five-day average of NYSE advances minus declines rose to 1,333 on Tuesday, one of the highest readings since November 2023 (just when the market was beginning a strong move). Back on December 18, the five-day was down at -1,300, so the recovery represents a breadth thrust. The NYSE McClellan Oscillator (a breadth indicator) has jumped to 77 from -124 in mid-December, also a thrust. The last time this happened was between April and May of 2024, just as the April to July rally started. For the SPX on Tuesday, the eight-day/13-day exponential moving average crossover turned bullish; the Chande Trend Meter moved back to bullish territory; and the vortex indicator, the daily moving-average convergence/divergence (MACD), and the 21-day rate-of-change (ROC) were all were very close to turning bullish. As well, volume was above average, also a good sign. (Mark Arbeter, CMT)

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Fluor is one of the largest global providers of engineering, procurement, construction, fabrication, operations, and maintenance services. The firm serves a wide range of end markets including oil and gas, chemicals, mining, metals, and transportation. The company’s business is organized into three core segments: urban solutions, mission solutions, and energy solutions. Fluor generated $15.5 billion in revenue in 2023.

Founded in 1948, Hexcel designs and manufactures a range of highly engineered composite fibers, fabrics, resins, and structures for use in commercial aerospace, defense, and other industrial markets. These are lighter than metal and perform under rigorous conditions in aircraft frames, wings, engines, and other components and subassemblies. The company's name derives from the six-sided honeycomb structures that lend many of its products their light weight and rigidity. Hexcel's biggest customers are Airbus (38% of 2022 sales) and Boeing (25% of prepandemic sales) and its respective subcontractors.