The stock market had a nice rally since the last post with over +10% move for the major indexes. The Nasdaq has exceeded last year's high and the Dow is just at last year's high. So this market action could hint for more bullish move higher later in the year. For the short term, and possibly medium term, there could be some caution for the stock market as the SP500 is still a few percentage points below it's 2011 highs. If this were to be the case of either a pause or a bigger correction then there should be buyers below the SP500 1300 level (with 1250 being strong support.) On the other hand, if bullish momentum continues to overpower any brief weakness than there could be just a slow move higher.
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