The market opened higher this morning with the bulls getting off to an early lead as they continue to push the upper end of the current trading range. The bears have caught up a little but the market is still showing some decent gains as we head towards the second half of trading.
Economic news has been positive. Personal income for February was up 0.3% and consumer spending rose 0.7%. Expectations were for 0.2% and 0.5%, respectively. Pending home sales jumped 2.1% versus expectations for an increase of 0.3%.
As we head to press, the Dow is higher by 21 points to 12,241 and has traded up to 12,272. The S&P 500 is advancing 2 points to 1,316 and has kissed 1,319. The Nasdaq is showing a 3 point pop and is at 2,746. Tech has reached 2,754 today.
We have one more trade we are going to add today and we are releasing it NOW. There are many more option trades we like but we are being a little cautious as we test resistance. However, we think the bulls are going to have a good 2-3 weeks over the near-term so we want to get long.]]>