Today's Alert is going to be short, as practically everything we wrote yesterday, remains valid today too. The S&P 500 buying spree not only came during yesterday's Memorial Day, but also during today's premarket session.

Stocks are likely to open above the 200-day moving average on the daily chart (that's around 3000), and we'll watch closely the unfolding attempt to move higher still, now that even the upper border of the early March (at around 2970) is history.

All in all, our long position remains justified.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care