With all the major stock indices now clearly trading above their respective 50-day moving average on the daily chart the rally should continues short has too cover their position fueling the rally.
The next upside target for all the three indices, the Dow the S&P 500 and the NQ, is a break above their respective prior swing high on the daily chart before a large pullback is to be expected.
The only caveat is the 10-year bond yield. As long as the 10-year bond yield continue to decline, and remains below 3%, the rally should continue.
