By Markus Heitkoetter
U.S. markets rallied for the 4th consecutive trading day with the S&P making new all-time highs. Aside from a new record it was a pretty boring day. E-Mini S&P traders saw the market trade in a narrow 10 point range compared to a current Average Daily Range of 18.75 points.
At the end of the session the S&P closed 5.5 points higher at 1890.90. The DOW added 40 points today and finished just 4 points away from its 2013 close. At this time the DOW is the only major U.S. index to remain in negative territory for the year.
TESLA MOTORS (TSLA) made headlines today with a 6.14% rally. The rally was linked to a New Jersey car regulation appeal that bans automakers from selling directly to the public.
After a picture perfect Power Crossover Method exit a few days ago (based on the Average Daily Range), TSLA has climbed higher and could be showing signs of a possible change of direction. This is another great example of why we love working with profit targets!