Macy's Rallies For Second Day In A Row

Macy's, Inc. M shares are trading higher by $1.04 at $36.83 in Tuesday's session. One of the worst performers in the S&P 500 index in 2015 is out of the gate fast to be a top performer in 2016.

After ending 2015 at $34.98, it dipped on Monday but found support ahead of its recent low for the move ($34.05) at $34.33. It rebounded to close at $35.79 and has not come close to that level, bottoming at $36.23 then continuing to move higher.

So far, it reached $37.39 before falling back under $37. That level is just shy of its December 11 high of $37.47. It should be noted the volume in the recent rally has taken place on much higher volume.