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Weak Markets Wednesday Suggest Violations of Support

4 Index Charts See Their Resistance Levels Violated

Where Does the Market Stand After Thursday s Rally?

Where Does the Market Stand After Thursday s Rally? Two of the sentiment indicators moved in opposite directions. Markets rallied Thursday after declines earlier this week. So where do we go from here? Let s check the latest index charts and market data. On the Charts All the equity indices closed higher Thursday with positive internals on the NYSE while the Nasdaq had slightly positive breadth but negative up/down volume. The charts saw some improvement with the S&P 500 (see below), DJIA, MidCap 400 and Value Line Arithmetic Index closing above their near-term downtrend lines and now neutral, while the MidCap and Value Line reclaimed their 50-day moving averages as well.

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