Midday Market Check - Everything Rallies But...

Tags: SPX
2 May 2:43am
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We head into the later part of the session with a rally underway...


Chart Courtesy of Thomson Financial

The initial ticks of opening action were fairly subdued (as we already discussed) but the subsequent action has been very strong. The S&P 500 (SPX) is currently testing its best levels of the day while the Dow Jones Industrial Average (DJIA) breaks above 13,000.

In terms of the sector movement, it can be broken down along some pretty clean lines. Commodity corner and bonds are lagging while everything else rallies...


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Schaeffer’s Investment Research, founded by Bernie Schaeffer in 1981, is a research-driven provider of investment research and recommendations featuring a unique, time-tested analysis of investor expectations. Schaeffer's contrarian approach, called Expectational Analysis®, focuses on stocks with technical and fundamental trends that run counter to investor expectations. The firm publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription publication and it's website, www.SchaeffersResearch.com, is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's.