Throughout the past two weeks, analysts have generally attributed the recovery of Dow Jones to technical factors, expressing skepticism toward the sustainability of the U.S. stock market rally.
This week, Shawn Cruz, a trader strategy manager at $30 billion brokerage giant TD Ameritrade, said that the sentiment in the U.S. stock market has improved, especially among fundamental-based investors.
“[Indicators of economic stability are] giving the more fundamental-based investors faith coming back into the market, which is then driving what technical traders are seeing on their screen,” Cruz said, speaking to The Wall Street Journal.
Can the Dow Jones Rally?
Since December 24, the Dow Jones has initiated one of the most impressive turnarounds in recent years, recovering from 21,782.2 points to 25,411.52 points within less than two months.
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