Woods: Market Activity "Irrational but not Exuberant"

Jay Woods is at the NYSE set with his latest takeaways on the stock market. With indices hitting new all-time highs, he says the rotation within the tech sector has been fascinating to watch including the recent rally in Apple (AAPL). He says the iPhone maker is acting like a staple stock and is watching the $260 level on its chart. For the Russell 2000 (RUT), he says the 10-year yield will be critically important to any further upside move for the small-caps group. Jay wants to see yields sustainably trade below 4%.

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