Below I am including some comments related to the charts of some of the most widely followed indices.
Dow-This index surpassed resistance at 12300. 50>200 DMA and prices have exceeded both. It is also approaching the upper boundary of it Bollinger bands.
Dow Transports-Has broken above resistance at 5050. 200>50 DMA and prices are above both.
NASDAQ-Not as good looking as the above charts. 200>50 DMA. Price is above both. Significant resistance point is still approaching at 2750.
SP500-Chart has overtaken its key resistance point today at 1290. We need to see some confirmation that these levels are sustainable. If it is sustainable the SP500 would provide support for the DOW's recent moves up. 200>50 DMA but price is above both and testing the upper bound of it's Bollinger bands.
Russell 2K-Test of 770 mark is coming up. Prices just rose above 200 DMA today. 200>50 DMA. Upper Bollinger bound of it's Bollinger bands is approaching.
Overall all of the indices have improved. The leader is the Dow with it's price above the moving averages and the averages in the correct order. This move up has been confirmed by the transports as they have broken past significant resistance. Need to see if the NASDAQ, SP500 and the R2K will follow but none of the three are looking too bad either.
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