Tuesday, January 10, 2012 at 08:19PM | Asher Pinto
And the bulls have done it!
S&P-500 Large Cap Index
SPX gained 11pts (0.9%), today. In the process, the index has broken intermediate resistance (derived from the October highs). The index has also broken resistance at the 60-line on RSI. All in all, it was a good day for the bulls. The key now is for the index to remain above 1285 and, if it can do so, we should soon see a retesting of last year's highs in the 1345-1365 area.
Dow Jones Industrials Average
INDU gained 70pts (0.6%), today. The index has moved to a new 5--month highs, having broken minor resistance that has developed over the past week. The index is also not far from breaking resistance just above the 60-line on RSI.
Nasdaq-100 Index
NDX gained 17pts (0.7%), today. The index was trading with bigger gains but lost ground and filled the opening gap, into the close. With resistance near the 60-line on RSI having broken and a positive 0-line crossover on MACD, the index should soon be testing intermediate resistance at 2400.
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« Market Update: Jan 10, '12 »
And the bulls have done it!
S&P-500 Large Cap Index
SPX gained 11pts (0.9%), today. In the process, the index has broken intermediate resistance (derived from the October highs). The index has also broken resistance at the 60-line on RSI. All in all, it was a good day for the bulls. The key now is for the index to remain above 1285 and, if it can do so, we should soon see a retesting of last year's highs in the 1345-1365 area.
Dow Jones Industrials Average
INDU gained 70pts (0.6%), today. The index has moved to a new 5--month highs, having broken minor resistance that has developed over the past week. The index is also not far from breaking resistance just above the 60-line on RSI.
Nasdaq-100 Index
NDX gained 17pts (0.7%), today. The index was trading with bigger gains but lost ground and filled the opening gap, into the close. With resistance near the 60-line on RSI having broken and a positive 0-line crossover on MACD, the index should soon be testing intermediate resistance at 2400.
FREE Stock Picks
For the next several months, we will be providing FREE stock picks and options picks at our public listing at stockcharts.com. Please check out the same and also show us your support by voting for us (Click the "Vote Best Public Chart List" at the bottom right of page) - http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2295600