Brexcited! Dow Jumps 135 Points as Stocks Look Past Brexit

Stocks are rallying again today as investors continue to put last week's Brexit vote in the rear-view mirror. The S&P 500 has risen 0.9% to 2,053.85 at 9:40 a.m. today, while the Dow Jones Industrial Average has advanced 136.49 points, or 0.8%, to 17,546.21. The Nasdaq Composite has gained 1% to 4,737.34. Still, the contrarian in me wants to throw cold water on the rally. Instinet's Frank Cappelleri , for one, sees worrisome similarities to December in the recent market action: