Technical Analysis 10/13/11

The market has made a move up including a breakthrough the 50 day moving average.  Is this a new move to the upside or just a reflexive bounce from oversold levels?

Let's look at the charts:

Dow:  Now that the 50 day has been overcome resistance at the 11600 level is the next point of interest.

NASDAQ: 2643 is the next point of interest.

SP500: Next point of interest is 1230.

The moves up have been confirmed by the transports which are moving up in identical fashion to the indices which reflect that there is no divergence in the moves up recently.