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Small is big. Stocks had a mixed close yesterday as investors took a breather from the big gains put up in the prior sessions. Small caps did not get the memo and closed in the green for a third consecutive high, flashing a positive signal for the road ahead.

Boosted immunity Monday. For a second Monday in a row, stocks rallied on positive virus news. Moderna’s announcement that their vaccine had a 94.5% efficacy rate pushed the Dow and Russell to new highs as the value rally continues on hopes of recovery

Defiance. Stocks continued to climb on Friday led by cyclical value shares and small caps. The imminence of a vaccine caused sidelined investors to jump back into global equities.

Veered off. Stocks sold off yesterday as virus cases surge and more stimulus became more elusive. Stocks reversed course from earlier in the week, returning to the here-and-now trade, driven by the pandemic.

The comfort zone. Stocks had a mixed close yesterday as investors sought comfort from old friend technology. A notable pivot back to growth from value left investors wondering if the trend would continue.

A shot in the arm. Stocks had a mixed close yesterday as Monday’s positivity flowed into a second day of value buying. Capital flowed from pandemic-vaunted growth sectors into pandemic-shunned value sectors.