Today the market staged a robust and wide spread rally. But for a handful of Dow stocks like KO and IBM, the index would have been up well over 300 points today.
The questions everyone has are, “will it last and how high will it go?”
Last night in the video, I tried to answer at least where the current resistance point was, which by chance was hit today.
The larger question is “will it last?”
The answer is, it might.
We will certainly have another pull back in the market, but at this point it remains to be seen whether or not the next down leg will have to make new lows. The higher we go off this most recent bottom, the lower the probabilities of making new news this year. More on this in tonight’s video.
Crude Oil continues to struggle and can’t seem to get off the bottom, but the stocks in the oil services sector had a nice outing today.
Gold didn’t do much today and remains in a holding pattern around the 1250 area until further notice.
Much more in tonight’s video found below.