MarketWrap : breakout finally.....super bullish

Overall bullish equities sentiment today after Intel 3Q results, as CNN put it, “blasts through forecasts” and therefore setting higher expectations for this week’s result. After struggling for 3-day at 1240, fbm/fkli finally made a move, a big one too, re-bullish the mkt tone.

Technically, a new breakout, a new game eyeing 1270 in the coming days. Support is raised to 1240.

The market may seem overstretch on daily basis, therefore trading sell on weakness, especially if there is gap-up or below 1250 tomorrow, targeting 7SMA and cut loss if a new high is hit. But focus remains a long position.