9:00am (EST)

The bears had a slight edge going into Monday’s session as negative news from overseas weighed on Wall Street.  The bulls were roaming on Sunday night as futures were up which lead us to believe Monday would be an up day despite the fact the indexes opened lower.  We said in our Weekly Wrap and Monday Morning Outlook that we expect one last push towards our “fluff” targets and yesterday pop past resistance puts us halfway there.

The Dow gained 52 points, or 0.4%, to end at 13,264.  The blue-chips made a triple-digit bounce off the low of 13,153 and traded to a high of 13,297.  Our near-term target from January has been 13,500 which is only a 2% move from current levels.  Support remains 13,200-13,000.  Dow component, Alcoa (AA, $10.17, up $0.15) was up nearly 2% and will kick-off 1Q earnings season next Tuesday.


If you are not a subscriber but would like to read more please click here.   We have some super cool charts to show you today on the S&P 500 and Lululemon Athletica (LULU, $74.74, up $0.01).  This week and next could offer big clues on if the rally continues or if the bulls are in for a big surprise.