US stocks closed with strong gains overnight while President Donald Trump also returned to the White House after a three-night hospital stay due to coronavirus infection. DOW ended up 1.68%, S&P 500 rose 1.80%. NASDAQ rose 2.32%.
DOW and S&P 500 led this time, breaking through last week’s high while NASDAQ lagged. Clear support is seen from 55 day EMA (now at 27393.73) for now. Further rise should be seen to retest 29199.35 in the near term. Though, we’re not expecting a clean break there yet. Another fall is still likely before the consolidation from 29199.35 completes.
