Wednesday, April 20th, 2016

Stocks rally on Fiscal cliff optimism

Today the market bounced off the 50 day moving average in a nice rally maintaining the previous rally from the bottom reversal of 11/16/12. Fiscal cliff resolution and talks provided enough euphoria of sorts. John Boehner indicated that he is willing to allow tax cuts on wealth individuals who make more than $1million. This sentiment has been echoed by many business executives over a period of time.

GOOG went up along with major stocks like AAPL, PCLN. AAPL made a dash to 501 and undercut its previous low at 505 set on November 16, 2012. But than the stock reversed and went higher ending at 519. The financials also rallied along with major stocks. BAC broke out from a nice base.

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  1. […] there is some resolution to the Fiscal cliff climate the market will ignite and go higher. Meanwhile it often pays to stay in cash and watch from the […]

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