Powerful Market Rally Spurs Talk of a Breakout

A harsh chill descended on Wall Street proper today, but it was warm and sunny in the ethereal realm of trading. A lack of blockbuster volume was the lone blight on an advance in which just about everything worked and major averages climbed impressively higher.

Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 212.73 +2.3% 9552.68 +4% S&P 500 32.92 +2.7% 1272.14 +3.5% Nasdaq 58.41 +2.6% 2342.01 +6.8% Russell 2000 5.52 +1.4% 397.82 -5.7% TSC Internet 19.78 +4.2% 490.38 +20.6% TSC E-Commerce 3.29 +3.5% 97.89 +15% TREASURY BOND CHANGE VALUE YIELD 30-Year 14/32 98 15/32 5.354%

Traders pinned hopes on a belief that Federal Reserve Chairman Alan Greenspan will not say anything to disturb the U.S. economy or the stock market (is there a difference?) during his Humphrey-Hawkins testimony tomorrow and Wednesday. ...