Markets Rally, Nasdaq Closes Above 200 DMA

DJIA + 94.28, +0.73% SP500 + 14.91, +1.06% NASDAQ Comp. + 37.03, +1.48% Russell 2000 + 7.31, +0.99% Support bounces and breakouts were in abundance today as indices and stocks moved higher after pulling back moderately yesterday. The DJIA, S&P and Russell 2000 finished at their 200 DMA while the Nasdaq and many individual stocks were breaking through their respective 200 DMA. This is a significant intermediate breakout with price targets that could put the indices near last year’s highs. More will follow on these price targets tomorrow. On the NYSE advancers led decliners 2,195 to 934 with 51 52 week highs and on 7 new lows. On the Nasdaq advancers led decliners 1,763 to 1,136 while ther were 28 52 week highs and 22 52 week lows.. Today’s Action Moving Up DRYS, CLF, POT, MTL, X, FWLT, MOS, SOHU, CNX, AAPL, MEE, BIDU, LEH, CF, GRMN, AGU, STRA, RIMM, AMZN, NUE, DECK, SCHN, MER, MON, IBM, MS, EBAY Moving Down CELG, GS, FSLR, IPI, ESRX Intermediate Term Market Trend: Up Short Term Market Trend: Up