Ralph Acampora Bullish

Veteran technician Ralph Acampora told Bloomberg on 10/17 that he sees the S&P going to 1375 in the next few months.  Acampora emphasizes the importance of leadership stocks as a measure of the health of the market and IBM is such a bellwhether stock.  As long as it is making new highs, the market should steam ahead.  Ironically, a few hours later, IBM reported somewhat light revenue for the third quarter and the stock promptly sold off $8 in after-hours trading.