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This rally has wheels!

Traders returned to the market in a good mood on Tuesday morning, their spirits having been lifted, no doubt, by the joyous global celebrations marking Presidents’ Day. With oil, gold, the dollar, and interest rates all more or less hovering in place over the long weekend, the market may be taking its cue from China, as the SHCOMP rallied more than 3% overnight. Also this morning, a small fish, Apollo Global (APO), arranged a deal to buy a bigger fish, ADT (ADT), in a $6.9 billion deal.

West Texas Intermediate crude is trading at $29.57. At present, the S&P 500 is up 0.78%, the DJIA is up 0.54%, and the NASDAQ is up 1.37%.

Here are your Tuesday morning market metrics. Industries doing well today include commercial services, internet and catalog retail, and communications equipment. Industries showing weakness include electrical equipment, leisure products, and diversified telecommunications. The VIX is down 1% to 25.08 after closing on Friday at 25.4. The most actively traded equity options are for Bank of America (BAC), with 25,105 February 17 puts changing hands. The total put-call volume ratio as of 9:00 AM was 0.76 (406,432/310,861). NYSE Adv/Dec 2,126/776. Nasdaq Adv/Dec 1,737/598.

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Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.