The Stock Market Keeps Rallying. The Cases for a Pullback or a Run to 7000.
The Stock Market Keeps Rallying. The Cases for a Pullback or a Run to 7000.
As the S&P 500 rallies from its depths in early April, technical analysts see reason for both caution and optimism.
The market benchmark was up 0.9% to about 5900 in Tuesday afternoon trading. The Nasdaq Composite was up 1.7%. The Dow was down 140 points, or 0.3%, but would be trading higher if not for a steep decline in UnitedHealth.
Rich Ross, Evercore ISI's head of technical analysis, called the S&P 500’s sharp recovery the start of a new bull market run that targets 6150 as the index marches back toward its February record levels. He sees measured upside to 7000.
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