Off the Charts
The Dow closed at new all-time highs today while the S&P (SPY) closed at new multi-year highs. While we saw the obligatory milestone headlines today, the exuberance in the market did seem a little bit subdued. The world economy still faces major obstacles to sustain this comeback, but for right now equity markets are acting well. Last Monday's sharp sell-off id induce some anxiety, but it was short-lived. The S&P closed the day up 0.96, while the Nasdaq led the way with a 1.32% gain.
The S&P opened above the prior high of 1530 this morning and never looked back. While momentum waned in the afternoon, the index still closed about the breakout of 1530. The industrials led the way higher today followed closely by technology as Google (GOOG) extended to new all-time highs once again. Even laggard Apple (AAPL) joined today's rally as it climbed off of 52-week lows to close the day up 2.64%....693 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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