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Robo-Bull

The creature before us cannot be the bull that we once knew. The bull ran wild from 2011 through the first half of 2015, but then, sadly—and officially—it died. A bull market ends, in technical terms, when the market falls over a six-month period, and the S&P 500 actually fell a twelve-month period, from June 2015 to June 2016. This bull, though cloaked in the flesh of its predecessor, is powered by strange forces that most analysts cannot yet comprehend, let alone predict. In other news, Fred’s (FRED) has agreed to buy 865 stores from Rite Aid (RAD) and Walgreens (WBA), doubling its footprint. Shares of FRED are up 71%. You go, Fred!

West Texas Intermediate crude is trading at $52.55. At present, the S&P 500 is up 0.35%, the DJIA is up 0.42%, and the NASDAQ is up 0.50%.

Here are your Tuesday morning market metrics. Industries doing well today include multiline retail, airlines, and trading companies. Industries showing weakness include tobacco, food products, and beverages. The VIX is down 0.2% to 11.69 after closing on Monday at 11.71. The most heavily traded options this morning are for the iShares Russell 2000 ETF (IWM), with 5,095 December-23 136 puts on the board. The total put/call ratio as of 10:00 AM was 0.83 (225,413/188,104). NYSE Adv/Dec 2,018/871. Nasdaq Adv/Dec 1,852/167.

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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.