Stock Market Today: Bulls Take Charge as Stocks Rally

NEW YORK (TheStreet) --  The markets aren't about to hit a big road bump and will stay resilient in the face of negative headlines. Don't get caught on the wrong side of the trade; stay focused to the upside.

The major U.S. stock markets were stronger on Monday in anticipation of a heavy week for economic events and as jitters over Ukraine eased a bit. Sound economic fundamentals continued to be in play on Monday after the NAHB Housing Market Index for August rose to 55, the highest reading since January. The number of stocks rising with the market far exceeded the number of declining stocks by a ratio of about four-to-one on the New York Stock Exchange and more than three-to-one on the Nasdaq -- 145 issues were making new 52-week highs vs. 12 creating new 52-week lows. The tech-heavy Nasdaq hit a more than 13-year high on Monday on a 0.96% gain by this economically sensitive sector. The leaders were Apple (AAPL) , Yahoo! (YHOO) and Google (GOOG) .

Read More:
Aug. 18 Premarket Briefing: 10 Things You Should Know

"Both the intermediate and longer-term technical picture of the market remains bullish. We have not seen any uptrend violations that would suggest otherwise," said Piper Jaffray technical market analyst Craig Johnson.

The Dow Jones Industrial Average was gaining 1.04% to 16,836.21. The S&P 500 was tacking on 0.83% to 1,971.36. The Nasdaq was higher by 0.89% to 4,504.38. The major U.S. stock markets edged off their worst levels of the day in the final hour of trading Friday and finished the week higher as fears about Russia-Ukraine were balanced by signs that the U.S. economy appears to be on track for a solid, sustained recovery.

If you liked this article you might like

Forecast for S&P 500, Dow Industrials Remains Bullish, These Charts Show

Dow 20,000! It Should Mean Nothing to Investors, but Then Again...

Tradebird Investors Are Bullish on U.S. Stocks but Bearish on the Euro

Why Home Depot and Boeing Stock Fell Tuesday