With U.S. stock markets set to open in two hours, West Pharmaceutical Services Inc. (WST) was up 17.6% in pre-market trading, and Icon PLC (ICLR) was up 16.1%.

He also charted S&P 500 performance after 60 days above the 20-day moving average, which has happened eight times before, but now for the first time in the 21st century. There was one instance, in ...