The holiday season is in full swing and, although it's business as usual in the Members' Area of our site, we've gotten caught up in the festivities and slacked off a bit on the blog. We'll be back to normal programming - providing a handful of articles every week - on the blog soon after the New Year begins. In the meantime, here's a quick update on the state of the markets, as covered in last night's commentary that was provided to members...

Good evening,

The markets made small moves today. The major indices closed unchanged or with small gains. Perhaps the biggest news of the day was the fact that the Dow has finally broken out of the recent range.
The bulls will not complain as long as the indices are moving to higher levels, but astute traders will note the fact the volumes have once again shown up at sub-par levels. The bulls will put a spin on that fact of course and claim that the low volumes are more a factor of the holiday week, than of a lack of belief in the breakout.

We shall wait and see...

S&P-500 Large Cap Index - Daily Chart...

S&P-500 Large Caps

SPX traded with small gains or small losses at various points of the day and finished the session with a small gain of 0.12%. There have been no new technical developments. The upper bollinger band continues to rise slowly and volumes continue to show up at around half the recent average.

Dow Industrials - Daily Chart...

Dow Industrial Average

INDU has finally broken resistance at 10500 or so. Volumes were barely half of the recent average in this case as well. The upper bollinger band is starting to rise slowly and, as long as the index stays above 10500, that is a good sign for the bulls.

Nasdaq-100 Index - Daily Chart...

Nasdaq-100 Index

It seems like nothing can stop NDX now; it has traded outside its upper band for the fifth day in a row! RSI is in overbought territory. The index is now barely 20-25 points away from the measured move target area of 1900-1925.

Have a good trading week.

Happy Holidays!