Equity indexes rally, stop short of key levels



S&P 500


The Dow Jones Industrial Average ($DJI) had a gain of 108.68 points, or 0.92%, and closed at 11,980.52 on Monday. The best performer in the Dow was Alcoa (AA) (+4.05%). The stocks in the Dow that broke the +2% mark were IBM (IBM) (+2.66%), Cisco (CSCO) (+2.17%), and Intel (INTC) (+2.02%). Bank of America (BAC) (-2.32%) was the weakest stock in the index. Only 6 of Dow's 30 index components posted a loss and BAC was the only one to fall by more than 1%. The next largest percentage decliner was Johnson & Johnson (JNJ) (-0.7%), but the Dow's three financials were all in the losing category.

The S&P 500 ($SPX) rose 7.49 points or 0.58%, and closed at 1,290.84. NVIDIA (NVDA) once again broke to new highs on Monday, gaining 11.3%. JC Penney (JCP) (+7.19%), Quanta Services (PWR) (+6.70%), First Solar (FSLR) (+6.10%), and Sealed Air (SEE) (+5.42%) were the remaining ones in the index to gain more than 5% for the day. Radio Shack (RSH), however, continued its selloff with a fresh 52-week low after falling another 11.3%. H&R Block (HRB) (-4.14%) and First Horizon Natl. (FHN) (-3.39%) rounded off the three weakest index components.

The Nasdaq Composite ($COMPX) ended the session higher by 28.01 points, or 1.04%, on Monday and it closed at 2,717.55. First Solar (FSLR) (+6.10%), Lam Research (LCX) (+4.50%), and Flextronics Intl. (FLEX) followed NVDA as the Nasdaq-100's top percentage performers. F5 Networks (FFIV) (-3.10%), Urban Outfitters (URBN) (-2.28%), and Apollo Group (APOL) (-1.13%) were the weakest.

Nasdaq 100



Unless otherwise stated, the index action described in this article relates to the E-mini futures contracts for the respective indices. Actual index action may differ slightly in terms of pattern formation, although the market bias will remain the same.

Toni Hansen is president and co-founder of the Bastiat Group Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.

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About the Author
Toni Hansen

Toni Hansen is president and co-founder of the Bastiat Group, Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.

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