US equity futures are indicating a higher open this morning ahead of a light economic calendar.  Overnight, China was closed for the New Year’s holiday and Europe is firmly in the green.  While futures are higher, tech is a notable laggard following poorly received results from Alphabet (GOOGL) and lowered guidance from Seagate (STX).   Read all about it in today’s Bespoke Morning Lineup.

Bespoke Morning Lineup – 2/5/19

After a slow start to the week Monday, investors once again started to buy stocks between the opening and closing bell as the S&P 500 finished the day up nearly 0.7% while the Nasdaq rose over a full percentage point.  With the steady gains we have been seeing lately, the percentage of stocks in the S&P 500 trading at overbought levels continues to tick higher.  As of yesterday’s close, a net of 51.4% of the stocks in the S&P 500 are trading at overbought levels (>1 standard deviation above 50-DMA), and that’s the highest reading since late January 2018 when the percentage reached 63.4%.  Now, that was high!