By Markus Heitkoetter
Stocks started the session higher today following an overnight rally that lifted U.S. markets. The strength continued for most of the day with stocks ending the session strong near session highs.
The DOW had another triple digit day, closing the session up 175 points. The S&P ended the day up 16 points.
Trading in August has resembled a back and forth game of ping pong. Down, up, down up…Most trading days have been followed up by a move in the exact opposite direction. But with the DOW up 1.6% in August, it looks like the bulls might be winning the game as the DOW is on track to have the best trading month since February.
The Russell 2000 Index ETF (IWM) continued its move higher following last week’s Power Crossover Method Buy Signal. The Small Cap ETF was up 1.46% today as it marches towards an ADR Profit Target.