This rally has legs

Don't want to jinx it, but Wednesday saw another nice close and had the Dow holding steady at around the 8,500 level.

Part of the buoyancy was attribted to a better-than-expected jobs report from payroll administrator Automatic Data Processing.

The report showed that non-farm payrolls fell 491,000 in April, the smallest jobless decline in six months.

There are still many barriers to overcome and some have suggested we're seeing nothing more than a bear market rally, albeit a healthy one.

Buy-and-holders will shrug off any such analysis, but active traders may want to stay alert.

Brian