Markets Rally

At mid-day all broad indices are in rally mode with the DJIA up 100+ points, the S&P up 10+, the Nasdaq Composite 36+ and the Russell 2000 9+ points. All indices are above the mid-section (S1) of last Tuesday's large white candle. This rally is indicative why our trend position was only neutral last night. Support is an area of support not an exact price and yesterday's action while down was not a strong move lower. This is a bounce back into the short-term trading range and a trader's responsiblity is to continue to watch for a break below support or a breakout above resistance. This morning our attention is still focused on those stocks we have been watching this week. ETF's to Watch: DIA, SPY, QQQQ, IWM