Today's Markets

The big news today was from a technical perspective. Notice that prices moved above 10 day trendlines on all four averages. That's a very important move technically. However, look at the daily charts and you'll notice that prices are rebounding from a downward movement.

The DIAs are rallying into the 200 day SMA

The SPYs are rallying from teh 200 day SMA (a good development) but are rising from the lower point of a downward sloping channel.


The one exception is the QQQQs

Posted in: market analysis