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Thursday was a great session to extend this breakout rally above 2450. At first it seemed that investors wanted to take profits with red arrows flashing on the screen. Yet coming down the stretch the market rallied back to break even.
That is prototypical breakout behavior. Where pullbacks are fleeting mirages that disappear quickly as investors buy every dip for the fear of missing out on the next leg higher.
Keep hitting the buy button on the market as this bull market continues. A rotation to small caps is likely in order as well since large caps have had too much time in the sun. That is why I just picked up the 3X Smallcap ETF (TNA) to bolster my portfolio for the push to 2500.
Best,
Steve Reitmeister
Executive Vice President, Zacks Investment Research
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Thursday was a great session to extend this breakout rally above 2450. At first it seemed that investors wanted to take profits with red arrows flashing on the screen. Yet coming down the stretch the market rallied back to break even. 
