Markets Rally From Friday's Lows, End Near 200 DMA

DJIA - 5.86, -0.05% SP500 + 1.78, +0.13% NASDAQ Comp. - 4.88, -0.19% Russell 2000 - 2.21, -0.30% The broad indices recovered from the their intra-day lows on Friday to close near unchanged. The DJIA, Nasdaq Composite and Russell were down slightly, while the S&P closed up slightly for the day. The DJIA, S&P and Russell closed just below their respective 200 DMA and the Nasdaq Composite closed above its 200 DMA. The pause we are seeing here at the 200 DMA is typical as this represents a significant resistance/support area for the longer term trend. Successful breakouts of the 200 DMA will further strengthen the current uptrend that has been in place since the mid-March low. We maintain our current uptrend status. Intermediate Term Market Trend: Up Short Term Market Trend: Up