Stock Indices Surge On News Event

The Stock Indices surged today based on rumors of a debt ceiling resolve. The SPY surged into resistance. The QQQ closed above resistance and the IWM is testing upside resistance. Volume ticked up nicely as did breadth. It will be important to see follow-through tomorrow and to see the internals continue to strengthen if the rally and breakout are to continue.

Leave a Reply

Your email address will not be published. Required fields are marked *