The S&P500 couldn't quite close above that previous January high, so close.
The leader of the bunch (Nasdaq Composite) looks poised to keep running. I'm seeing a lot of charts that are testing, or close to testing, a previous gap level.
Russell poked it's head above those January highs. Perhaps looking to target 551.
Next we have the laggard Dow. Just kissed the 200-MA, next logical upside target would be approaching 9100. A test, and hold of 8600 would be nice too.
As financials were the "play" of Q4 '08 and Q1 '09, with the crumbling $dollar energy/commodities/oil are showing strength. XLE broke out of prior resistance/highs:
OIH is in lift-off mode. Gap-fill play in the $120-$124 level.
A curious development in POT today. Price broke out of a narrow base and tested that huge gap from September '08 which happened to coincide with a 38% Fib. retracement (snapped from high in June '08 to low in Dec. '08). It sold off hard at the end of the day, but rests right on top of the support range.
FCX has a shooting star pattern going on with a lower momentum reading as it approached the gap resistance from Sept. '08.
CF has a flag setting up as price retraced into the 20-EMA (previous resistance). Reloading for more upside?
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