Markets Rally on Tuesday

DJIA + 51.29, +0.40% SP500 + 10.77, +0.77% NASDAQ Comp. + 19.19, +0.78% Russell 2000 + 5.44, +0.75% The Nasdaq index led the way as markets rallied today. Trading below Friday’s intraday high, the Nasdaq, S&P and Russell 2000 each had new high closes today. Only the Dow lagged and failed to make a new high close. We left our trend ratings at Up on Monday, as the pullbacks appeared to be price fluctuations and not a change in short-term trend. That view seems to be validated by today’s price action. Most of the stocks we watch rose today and only one moved down significantly which is indicating market strength in many individual stocks in addition to the market indices. The Chart Signals seem to be suggesting that the recent breakout is for real.

PCP rose 8.20 on positive earnings today. Today’s Action Breakout Holding BUCY, GILD, ICE At Support Still ESRX Support Bounce Follow Through FLR Moving Up FSLR, CLF, MA, POT, STRA, CF, SCHN, SOHU, CNX, AGU, DECK, MOS, V, NUE, JASO, AAPL, X, MON, FWLT, GRMN, IPI, MEE, MTL Moving Down BIDU Intermediate Term Market Trend: Up Short Term Market Trend: Up