US stocks continue its move to the upside after Bullard's comments on soft landing

The major US stock indices are continuing their run to the upside with the NASDAQ index leading the way with again over 2%. The Dow industrial average is up 1.4%.

The additional gains come after Fed's Bullard said that policy changes don't have to end with a recession (he does not have a recession as the base base). That employment and inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term pressure can be relieved without employment pain.

Stocks are liking that type of Goldilocks chatter.

Having said that, the unknown is that the bond market is still implying sharply lower rates and Fed cuts going forward. It seemed that yields might need to go higher as a result. What impact will that have on stock prices - and potentially regional banks once again.

Today, there has been rebounds in the regional banks. The KRE ETF ETF An ETF, or Exchange-Traded Fund, is a type of investment fund that is traded on stock exchanges just like individual stocks. ETFs are designed to track the performance of a specific index, commodity, or basket of assets. For example, a stock market ETF may aim to replicate the performance of a particular stock index, such as the S&P 500. A well-known version of this is SPY. A commodity ETF might track the price of gold or oil, while a bond ETF could follow the performance of a specific bond An ETF, or Exchange-Traded Fund, is a type of investment fund that is traded on stock exchanges just like individual stocks. ETFs are designed to track the performance of a specific index, commodity, or basket of assets. For example, a stock market ETF may aim to replicate the performance of a particular stock index, such as the S&P 500. A well-known version of this is SPY. A commodity ETF might track the price of gold or oil, while a bond ETF could follow the performance of a specific bond Read this Term is currently up 5.32%. PacWest Bancorp is up 83.75% which is a relief but still only at $5.82. Western Alliance Bancorp is up $9.59 or 52.69% at $27.79. So there is some breathing room going into the weekend.

Looking at the NASDAQ index on the hourly chart above, the price i so far s approaching the swing highs going back to February 2, April 18 and May 1. Those highs came between 12245.43 and 12269.55. The high price today has reached 12225.26. A move above that area, will take the price to the highest level since August 26, 2022, and open the door for more upside momentum.

Looking at the daily chart, the swing lows going back to February 2022 and March 2022, come in around 12555.35. The high price going back to August 2022 reached 13181.09.. Those would be the next major target.