Stock index futures are higher in early trade, with June S&P 500 futures last up 16.50 at 885.50. Lind Plus Senior Market Strategist Jeff Friedman said perhaps the stock market is getting a little too emotional about the idea the recession will or is ebbing, given the data. He said the bump is most likely based on month-end “window dressing” by portfolio managers, but day traders should roll with it and not fight bullish momentum while it lasts. He put resistance at the January high 937.
“Too much too fast? Doesn’t matter. Momentum traders should keep pressing,” he said. Listen to Jeff’s daily market podcast.
