Stepping over 13.000 Nicely !

Stocks opened higher as investors were fueled with some better than expected earnings reports and encouraging economic data.

Boeing opened nearing its 52 week high after exceeding expectations led the Dow today. March durable goods also posted rising 3.4%, which is stronger than expected.

Anazon - AMZN did wonderful today. Its Q1 Profit were doubled and management raised its full year out look. Right on, several analyst upgraded Amazon and the stock really flew today ! Near closing bell AMZN traded as high as 56.32. That's a 25% increase from today opening !
AMZN helped nasdaq to lock higher.

Alcoa Inc. (AA) also posted great earning which helped the Dow to break its tight trading range during mid-day.

The Dow is at all time high and S&P at its 6 1/2 years high both indices continously to post gains. Stocks are also continously posting new high. Bad stocks suddenly turned good, good stocks went to its 52 week whatever high. Even with such conditions, I still call for a sharp pulback soon.

Perhaps the S&P will be pulled to reach its all time high before pullback, or we might see it sooner.

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Dow inching toward the 13.000 area

The USA Stock Market closed mixed yesterday. One of the most notable is the Dow, which managed to go up by 34.54 points. However it was alarmingly up to 12.989 area before retracing down slightly. Many day trader would speculate the Blue Chip stock here to go up with the Dow to touch the 13.000 area.

Although the S&P, Russell and NASDAQ did a side way move, the Dow didn't seem to fond of a side way move. The Dow slowly wants to touch the 13.000 line. From the last Friday rally, The Dow has been making a NEW HIGH everyday.

Since we are already at overbought position, a pullback is LIKELY to happen (although that does not mean it will CERTAINLY happen). We are on a stage of euphoria here, all bad news are nothing and all good news are wonderful news.

The S&P and Nasdaq didn't seem to move in sync with the Dow this week. Both indices continuously making lower high and lower low.

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