S&P 500 Index Futures Rallying Into End Of Q1

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. S&P 500 index futures were trading sharply higher by 28 points at 2080.50 in Monday's session. After trading higher for most of the pre-market session, the rally continued off the opening bell. So far, the index has recouped over half of its losses incurred during its tumble from just shy of its all-time high (2110.25), when it peaked last Monday at $2107.00. The ensuing decline found support just ahead of the lower end of the recent trading range (2030.75), only reaching 2033.25 on Thursday before staging it rebound. So far, all of the top components of the index are in the green. The top component Apple Inc. AAPL is higher by $2.43 $125.68. A big boost is being provided by the big integrated oil companies. At this time, Exxon-Mobil XOM is higher by $2.15 at $85.73 and Chevron Corporation CVX is higher by $2.70 at $106.98. Following a very bullish article in Barron's over the weekend, J.P. Morgan JPM is trading higher by $1.75 at $61.30. Wells Fargo WFC is benefiting from the rally in the financial sector as it's trading higher by $0.80 at $54.92. The SPDR S&P 500 ETF Trust SPY was higher by $2.72 (1.3 percent) at $208.47