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Stocks Higher, Tech Leads Rally

EQUITIES
  • Stock markets traded higher Monday, with tech names leading the bounce and prompting the NASDAQ to outperform relative to core S&P 500 and Dow Jones markets.
  • Strength in core markets boosted the e-mini S&P to within 40 points of the all time highs posted on May 10th at 4238.25. This marks the intraday bull trigger and a break through here opens 4239.26, the 1.764 proj of the Feb 1 - Feb 16 - Mar 4 price swing.
  • Communication services and technology names are leading indices higher, with the likes of NVIDIA, Twitter, Tesla, Facebook and Alphabet among the S&P 500's best performers.
  • Economic re-opening names also traded well, with MGM Resorts, Caesars Entertainment and Norwegian Cruises rallying 3% or more.

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