Stocks are climbing today as risk appetite continues to improve globally.
S&P 500 futures are higher by almost 0.2 percent. Europe is rallying strongly after the German ZEW survey of investor confidence blew past expectations. Indexes are higher by more than 1 percent in Frankfurt and Paris, along with formerly distressed markets such as Spain and Italy. Most Asian stocks were lower as investors took profits in China and Japan overnight.
U.S. trading resumes today after a three-day weekend. Stocks remain in rally mode as economic conditions continue to improve, especially in Europe. Some stocks have experienced an ema crossover, indicating a potentially bullish market and continued bullish push upwards. While the EMA’s were sloping downwards, they have in recent weeks been slowly climbing up until today when the official crossover happened.
The S&P 500 is sitting at its highest level in more than five years, while indexes such as the Dow Jones Transports and the Russell 2000 small caps are already in record territory.
— Option Monster