Thursday, January 12, 2012 at 07:49PM | Asher Pinto
Markets close with small gains. Bulls still in control.
S&P-500 Large Cap Index
SPX gained 3pts (0.2%), after once again spending time below the flat line for a good portion of the day. It's not a big deal though. It's still looking like it's gonna be a slow and steady trudge upwards. The upper Bollinger band has risen further and now sits at 1313 (nearly 1.5% above today's closing level). There's lots of room to the upside on RSI and MACD as well. Barring a failure to remain above the October highs (1285), there's nothing that should trouble the bulls until the 1345-65 range is attained.
Dow Jones Industrial Average
INDU gained 22pts (0.2%), today. Not a big gain, by any means, but sufficient to finally take out resistance near the 60-line on RSI.
Nasdaq-100 Index
NDX gained 10pts (0.4%). The index has closed at a new 9-week high and the October/November highs are now within striking distance. The upper Bollinger band has already risen to that level and with lots of room on the upside on RSI and MACD, the index shouldn't ordinarily have much trouble getting there forthwith.
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
« Market Update: Jan 12, '12 »
Markets close with small gains. Bulls still in control.
S&P-500 Large Cap Index
SPX gained 3pts (0.2%), after once again spending time below the flat line for a good portion of the day. It's not a big deal though. It's still looking like it's gonna be a slow and steady trudge upwards. The upper Bollinger band has risen further and now sits at 1313 (nearly 1.5% above today's closing level). There's lots of room to the upside on RSI and MACD as well. Barring a failure to remain above the October highs (1285), there's nothing that should trouble the bulls until the 1345-65 range is attained.
Dow Jones Industrial Average
INDU gained 22pts (0.2%), today. Not a big gain, by any means, but sufficient to finally take out resistance near the 60-line on RSI.
Nasdaq-100 Index
NDX gained 10pts (0.4%). The index has closed at a new 9-week high and the October/November highs are now within striking distance. The upper Bollinger band has already risen to that level and with lots of room on the upside on RSI and MACD, the index shouldn't ordinarily have much trouble getting there forthwith.
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