PRICE AND TURNOVER
Close: 12,684.92
Change: +114.70 (+0.91%)
Volume: 744,824,896
MARKET BREADTH (NYSE)
Net adv/dec issues: +1,334
Net new highs/lows: +22
Net up/down volume: +1,776,157,442
TECHNICALS
Intermediate downtrend, short term upswing
Support 12,000 Resistance 12,800
OUTLOOK
Today's uptick and higher close confirms 12,200 as the new immediate support and that a short term upswing is under way. The index appears to be on solid footing after breaking out of the pattern and trendline yesterday looking like its ready to challenge the 12,800 resistance. The breadth indicators affirm the wide participation in today's advance but again volume diverges by refusing to expand. Look carefully at the 12,800 resistance, a breach of this level will be very significant.
Close: 12,684.92
Change: +114.70 (+0.91%)
Volume: 744,824,896
MARKET BREADTH (NYSE)
Net adv/dec issues: +1,334
Net new highs/lows: +22
Net up/down volume: +1,776,157,442
TECHNICALS
Intermediate downtrend, short term upswing
Support 12,000 Resistance 12,800
OUTLOOK
Today's uptick and higher close confirms 12,200 as the new immediate support and that a short term upswing is under way. The index appears to be on solid footing after breaking out of the pattern and trendline yesterday looking like its ready to challenge the 12,800 resistance. The breadth indicators affirm the wide participation in today's advance but again volume diverges by refusing to expand. Look carefully at the 12,800 resistance, a breach of this level will be very significant.
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