Indices are UP three days in a row...a rare event since April......
Many traders & investors are caught off-guard with this rally & do not know IF they should believe it..this includes both long & short ????
Because so many are under/over exposed in this market ..this rally MAY stretch to 1100+ in this run in S&P 500..
Summer is generally tough for bulls which MAY be the same this time around.....???
Internals of the market were strong & after many days new 52 wk highs were in the lead in NYSE by a wide margin...Nasdaq still making more new 52 wk lows....
All in all technicals are on firmer footing......
Dow closed @ 10,138.99...50 DMA is 10,320.98 & 200 DMA is 10,363.39...NOT too far from here......
VIX down 4.21% to 25.71
Stocks which were UP 2% or more included M,AMZN,POT,IPI,AGU,
TSL,TCK,CNQ,JASO,SOL,SOLF,STP,FUQI.....
AH Futures Down
AH Asian markets mixed
AH Oil & gold UP
BLOG does NOT give buy or sell.
Saleem
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