The traders are keeping a close eye on stocks Monday, after President Obama spoke on CNBC and the S&P held its ground.
Although commentary from this President can drag down market sentiment - that didn't happen on Monday and Fast Money trader Joe Terranova finds the reaction, bullish.
Technically, the market is breaking out, said Terranova, chief market strategist of Virtus Investment Partners. Money managers are coming back from vacation and putting money back into the markets, Terranova said.
"Nothing that (Obama said) should make money managers step back from risk-on trades," he said. "I would not make any changes to my portfolio after hearing Obama speak."
In fact, stocks extended their September rally into a fourth week Monday as President Obama spoke at a CNBC-sponsored town hall in Washington.