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Market Extra: ‘Godfather’ of chart analysis says Trump rally has another 5% pop left

Prominent market technician Ralph Acampora thinks the stock market has more room to run over the near term, despite a trend that has seen the Dow steadily walk back from the psychologically significant level of 20,000.

Acampora told MarketWatch on Monday that the Dow Jones Industrial Average and the S&P 500 index still have another 5% rise in them over the next several months. That would take the Dow DJIA, +0.57% to around 20,750, handily breaching 20,000, from its current level of about 19,790, while the S&P 500 SPX, +0.66% would hit around 2,370 from 2,260.

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