Stocks rallied for a third straight day Tuesday as news the Federal Reserve considered a more aggressive course of action at its last meeting countered a weak read on consumer confidence.
Despite the gain, market watchers were skeptical the major U.S. equity indices would continue to build on the recent rally.
"For now, the market looks to battle around these levels," says Jeff Sciscillo, strategist at Campbell Wealth Management.
In the last two trading sessions, the Dow has surged about 360 points after a speech from Federal Reserve chief Ben Bernanke on Friday left the door open for the central bank to consider further stimulus measures come September."By being oversold in the near term, the market could bounce but remain in an overall downtrend," said Sam Stovall, investment strategist with Standard & Poor's. "Investors remain worried about a potential recession in the U.S. and sovereign debt worries in Europe. However, the purchasing of Spanish and Italian debt by the
European Central Bank and the International Monetary Fund has helped quell investor concerns," he added.
Dow Jones Industrial Average
(DJI: ^DJI )
| Index Value: | 11,559.95 |
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| Trade Time: | 4:02PM EDT |
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| Change: |  20.70 (0.18%) |
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| Prev Close: | 11,539.25 |
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| Open: | 11,532.13 |
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| Day's Range: | 11,429.39 -11,630.07 |
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| 52wk Range: | 9,915.73 -12,928.50 |
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