Another DJIA 600+ rally comes from medical hope, positive earning, friendly Fed and oil recovery.
- Gilead (GILD) +6.7% provides hope for COVID-19 virus treatment that boosts market confidence for bullish stock market.
- Alphabet Inc (GOOGL) +10% was driven higher from positive earning report.
- Fed Chairman Jerome Powell mentions low interest rate policy until full employment shows that its determination to lift up market with its power.
- Volatile oil market also keeps going higher from negative price zone. It is another sign that oil bottom is near or just past.
Still, entire rebound rally is based on thin volume. Thus, it is bullish market until large volume shows up with downside direction.