Rally Follows Through on Monday

As of 3 pm ET, the rally that began on Friday has continued to move higher. A quick look at key resistance areas to pay attention to: The DJIA which on Friday's close had moved back into the sideways trading range that started on October 10, is continuing to rise and has penetrated Thursday's R3 and Wednesday's R1...currently just below Wednesday's open...watch Wendesday's R2 and R3. Key resistance areas are 8,500 and 9,000. The SPX has moved back above its October 10 low and risen above Thursday's R2 and R3 levels as well as Wednesday's R1...840 is a key resistance/support area that the SPX is currently above...915 is the next key resistance area. The rally is broad with NYSE advancers leading decliners 3,168 to 545 and on the Nasdaq 2,111 to 810.