Stocks Surge On Geopolitical And Fed Optimism

The Stock Indices surged today trading right into important short-term resistance. The SPY closed just above that resistance. This suggests the potential for follow-through tomorrow. Caution is warranted if market breadth is not as strong as today. The Indices closed at the high of the day, suggesting they will go higher tomorrow. However, the Indices are also extremely overbought, suggesting some type of pause to work off the overbought condition. A divergence in internals on a higher high could suggest some type of pause.

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