Rebound will keep happening for commodities, emerging markets, says Ralph Acampora
by Barbara Kollmeyer
Wall Street was off to the races on Wednesday, marking a potential second day of gains after dovish comments from Federal Reserve Chairwoman Janet Yellen.
And with that, some bullish stock talk emerged from a well-known technical pro.
Legendary analyst Ralph Acampora, sometimes referred to as the godfather of technical analysis, fired off a fusillade of tweets Wednesday, a day after U.S. stocks DJIA, +0.47% SPX, +0.44% COMP, +0.47% closed at 2016 highs on the back of Yellen’s speech, which reiterated her desire to raise rates cautiously amid a shaky period for global economic growth.
Acampora said stocks are likely to keep that positive action up in the following tweet: