The bulls got a second-straight Monday win and were able to push new highs following the break out of the current trading range. There are still some headwinds before possible smooth sailing into May but yesterday’s start was a breeze.
Futures were steadily improving on Sunday night that led to a strong open and steady climb throughout the session. There was a little pressure into the close as the indexes backed off their highs but the bulls hit our trigger targets for an extended rally into May.
The Dow jumped 106 points, or 0.7%, to finish at 14,818. The blue-chips traded to a high of 14,844 and came within 43 points of hitting record highs. A close above 14,900 will get the cheerleaders out for Dow 15,000 but we are rooting for 15,300. Resistance at 14,800 will now try to hold as support with backup at 14,600. (read more…)
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