Off the Charts

The S&P kicked off August with a bang, breaking above the psychological 1700 level for the first time ever. When I outlined my "S&P Road to 1700 by 2015" thesis, I got called by many out for having such an ambitious target. As it turns out, it wasn't ambitious enough. The S&P, Nasdaq and Dow finished the day up 1.25%, 1.36% and 0.83%, respectively.

The majority of today's move came in pre-market trading as there was a positive jobless claims number. All sectors closed the day in in the green with the financials, retail and consumer sectors leading the charge. Tomorrow before the open we have the non-farm payrolls report, which is typically a market moving number -- especially as the Fed looks set to start gradually taking off the QE training wheels....322 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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