Updated from 2:37 p.m. EDTIf the bulls were grateful that the Dow Jones Industrial Average didn't falter and give back Tuesday's rally yesterday, they should be tickled pink today. In all, the Dow climbed 9.5% over the previous three trading sessions, the longest winning streak since one that ended after Jan. 28 and the biggest since November. What makes today's 240-point, 3.5% surge particularly remarkable is that Dow futures were down roughly 100 points when compared to fair value at 7 a.m. EDT this morning. Bank of America ( BAC), General Electric ( GE) and General Motors ( GM) were the big winners of the day following a flurry of news. Consumer-related names also pieced together a strong session, with McDonald's ( MCD), Procter & Gamble ( PG), Home Depot ( HD) and Wal-Mart ( WMT) finishing with gains. In addition, American Express ( AXP) shares overcame a bearish research note from a Citi analyst to post a 10.2% advance for the day. United Technologies ( UTX) also overcame a shaky start to the session after CFO Greg Hayes said the company would be more aggressive with mergers and acquisitions this year. Microsoft ( MSFT) was the only laggard on the Dow, losing 0.6% to finish at $17.01. The stock was pressured by a Morgan Stanley analyst's prediction that PC sales would fall by 11% in 2009 as cheaper, smaller netbooks gain in popularity. (At 2:37 p.m. EDT) Apparently I spoke too soon. The Dow has now easily topped 7100 and keeps pushing higher. The Dow's three-day rally is now good for 8.6%, as the bulls have seized control. Market observers still debate whether this is a bear market rally or the turning point, but the bulls will certainly pocket this rally with a smile.