US stocks end the day with strong gains on hope of tax reform

Just say tax reform and stocks move higher

The US stocks benefited from chatter about tax reform. That, and a technical turnaround after the S&P and Nasdaq tested their 100 day MAs yesterday and held. The major indices are closing with solid/strong gains.

• The S&P is ending the day up 0.99% or 24.14 points to 2452.51. It closed back above its 50 day MA at 2450
• The Nasdaq did even better ending the day up 84.34 points or 1.36% to 6297.47. Its 50 day MA was taken back way back at 6272.
• The Dow is ending the day up 196.14 points or 0.90%.

It is hard to keep a bull market down. Today, the bulls raced back in and showed who is the boss.