All That is Bearish is Bullish Again: Dow Trades New High, S&P 500 Climbs

Stocks are heading higher today as the market decided to ignore the "No" vote in Italy's constitutional referendum . The Dow Jones Industrial Average has advanced 96.80 points, or 0.5%, to 19,267.22 at 10:07 a.m. today, above its record close of 19191.93 hit on Dec. 1. The S&P 500 has risen 0.7% to 2,208.23, just 0.2% below its record close of 2,213.35 reach on Nov.25. The Nasdaq Composite has gained 1% to 5,308.15. Rhino Trading's Michael Block offers his take on why the market is rallying following the Italian referendum :