After Nasdaq and S&P 500 stocks rallied to new highs, one trader says the rally is just getting started.
"I think there's some real room to run here," said technical analyst Todd Gordon. "We're right in the middle of earnings season and the market is breaking out of a consolidation phase."
Stocks soared to record highs Friday, with the S&P 500 and Nasdaq closing the week at all-time highs.
Strong earnings results from Microsoft and Amazon helped boost the market last week—each soaring a respective 10 and 14 percent on Friday alone. Apple is set to report after Monday's closing bell, which should give the tech-heavy Nasdaq another leg up, said Gordon.