Stocks are on the rise on Wall Street to kick off a shortened week of trading.
Jim Cramer is out, so Kenny Polcari, managing partner at Kace Capital Advisors joined TheStreet Live.
"Just when you thought it could not go any higher – stocks managed to push out gains on Friday – ahead of the long weekend…which many thoughts (myself included) meant that the path of least resistance would have been flat to down….as so much can happen over 3 days when you cannot really participate….in any event – that did not happen," wrote Polcari in his morning newsletter. "As the 4 pm closing bell rang – we saw that the Dow added 27 pts or 0.09%, the S&P gained 18 pts or 0.45%, the Nasdaq added 70 pts or 0.5% and the Russell gained 4 pts or 0.18%. And…….in a real show of support to the idea that everything is ‘ok’ – the Transports surged ahead…adding 221 pts or 1.7% and this speaks volumes about investor psyche…. Not only because both the Dow Industrials and the Dow Transports advanced but because they have been advancing in tandem over the past couple of weeks….and in Dow theory – that is a ‘bullish’ sign."
So, what is he watching in the markets?
Watch the video above for more.
Recap TheStreet Live: What to Watch in the Market Tuesday
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