The stock market broke out to the upside Wednesday as the Spyder Trust (SPY), SPDR Dow Industrials (DIA), and PowerShares QQQ Trust (QQQ) all closed above the previous swing highs. The S&P 500 Advance/Decline made new highs but the other major A/D lines have not yet. Unless we reverse to the downside in equal magnitude today, this suggests that the S&P 500 cash should test, if not exceed, the 1800 level with quarterly R2 resistance at 1801. Many sectors were strong Wednesday as the Select Sector...
The stock market broke out to the upside Wednesday as the Spyder Trust (SPY), SPDR Dow Industrials (DIA), and PowerShares QQQ Trust (QQQ) all closed above the previous swing highs. The S&P 500 Advance/Decline made new highs but the other major A/D lines have not yet. Unless we reverse to the downside in equal magnitude today, this suggests that the S&P 500 cash should test, if not exceed, the 1800 level with quarterly R2 resistance at 1801. Many sectors were strong Wednesday as the Select Sector...
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