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We continue to get some pop from the broader markets, so more back and forth following much of the same last week. Although we continue to get some bumps from the major averages, the S&P 500 still hasn't been quite able to buck its recent trend of lower highs and lower lows.

Actually, yesterday's high was a bit higher than Friday's but we'll see if the index can find some follow through by day's end or not. If it can't, the guys over at Elite Opportunity Pro (EOP) still think the index has a good chance of breaking below 2,400 before the index could be in a position to find its footing again.

More importantly, if the S&P 500 can't find follow through - and ends up moving lower for the rest of the week - this week would mark the third consecutive week the index will have made a lower weekly high.

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What a way to kick off the new week. While most of our featured stocks continue to languish for the time being - something that's pretty normal for any small stock until they decide to break out - Abeona Therapeutics Inc. (NASDAQ: ABEO) is having another tremendous day.

Up over 50% now since adding it to our featured stock list on June 29th, shares of ABEO continue to run in dramatic fashion on what appears to be no new fundamental news. However, the company did recently the FDA granted them Orphan Drug Designation (ODD) for their Abeona's ABO-201 program (AAV-CLN3), the AAV-based single intravenous gene therapy program for juvenile Batten disease, which combats the fatal lysosomal storage disease of the nervous system caused by autosomal-recessive mutations in the CLN3 gene.

Although there's been nothing new on the PR front since, you can see the stock continues to rip higher, but now may be time to take some profits. Or, at least lock in some gains, take what you have off the table and keep the rest? It's up to you. However, when it comes to small caps, it's usually best to take the profits when they surface like this.

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Markets are somewhat under pressure again, which further adds to the short-term complexity of the market landscape. All of the major averages are struggling a bit on the day so far, but at least the NASDAQ is doing its part to hang in there, modestly up on the day right now.

The good news is small caps are hanging in there though, while a lot of the bigger issues continue to run into selling pressure. I guess that's to be expected since large and mega caps have been the preference among the professional community for quite some time. But, like we always say there's always strength developing somewhere.

The daily chart of the Russell 2000, which tracks the entire small cap space for the most part, has been holding its own lately. Sure, the range has been fairly wide, but it's still better than the lower lows on some of the major indexes over the last several days. This should end up being a good thing for small caps once stocks in general can find their bullish footing again.

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How's everybody feeling today? It was quite the celebratory day yesterday around the country. Personally, I took some time to watch one of my favorite Netflix series yesterday morning - Turn Washington's Spies. If you get a chance, it's really well done, and it's a great series for anyone who has an interest in what actually happened during our Revolution back in the 1700's.

I digress. Stocks are up modestly on the day so far with biotech leading all of the major sectors. It's something we pointed out via our friends over at Elite Opportunity Pro (EOP) weeks ago. You can see one of the big biotech ETF's in BIB doing well now after pretty much flat lining for a good part of the year.

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Happy Friday everyone. I'm sure all of you are looking forward to a nice long weekend now and for good reason. The markets have literally stifled enough speculators out there frustrating them to no end - as another big one day selloff yesterday took the previous day's rally by surprise.

This can sometimes be the type of activity we get before another quarterly earnings period, so it's something everyone should take with a grain of salt. At the end of the day, everyone should always assume this bull market is still very much intact until something fundamentally major drops to change the current economic landscape - and that just hasn't happened.

There's always the possibility of a disastrous geopolitical type event, or something along those lines, but let's face it - that's not something anyone can ever really predict. So, it's probably far more prudent to be the bull when everyone else starts to become a bear, and we've had a lot of that going on lately.