S&P 500 futures have extended over 2700, targeting the first meaningful price level near 2718/2720.
This equates to the slope of the line from the January 26 highs as well as 4/18 highs.
For now, this is the first real area of importance to this rise.
A move OVER 2720 would allow for a likely final push which could prove to be 60 additional S&P points to as high as the 2775-2783 area.
Elsewhere, bonds are rallying a bit today, (yield curve flattening) while the Dollar is selling off. Precious metals are fractionally higher and most of Asia finished higher, while Europe is mixed today.
Tech and Energy are still likely to lead the stock market this week and should still be overweighted and favored for outperformance into next week.
Twitter: @MarkNewtonCMT
Author has positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
