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Monday stocks rose to their 3rd best close in history. Yet, there really was no news to associate with the rise. Likely it is just anticipation of good things ahead and a date with 2000 on the way.
Yes, Citi gave a solid earnings report on Monday, but most investors realize banking profits are not necessarily aligned with the broader economy. Tuesday offers a better set of stocks to judge earnings success including railroad giant CSX along with Intel and Yahoo.
Plus Tuesday has one of the two vital economic reports this week in Retail Sales. The other of import is Industrial Production on Wednesday.
We clear these hurdles and 2000 is in the bag this week. If we falter, then here comes the pullback...maybe 1900 if more red flags appear. So get ready to trade based upon how these linchpins fall into place.
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