David Fry's  Instablog

The recent rally is still being led higher by all things Apple (AAPL) and Monday was no exception as the company will payout a $2.50 dividend and buyback $10 billion of the outstanding shares. They say they're still committed to product innovation but that still remains to be seen. After all, their visionary leader is gone, and beyond tinkering with improvements here and there, we'll have to see if there are any breakthrough products on the horizon. Apple continues to dominate most tech indexes with XLK and QQQ still being nearly 20% weighted.

Financials (XLF, KBE & KRE) for example have also joined the bullish party rallying sharply over the past two weeks. This is a positive since there has never been a durable bull market without financials in the mix. That said, we haven't experienced a financial crisis like this before either.

Other corporate news of note featured United Parcel (UPS) up 4% after its acquisition of Dutch competitor TNT Express.

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