Equities rally into open again

Afterhours the trap became even clearer. The indices pulled back into the mid-day trading range, hugged that support zone as momentum shifted within the channel on the 5 minute time frame, and then broke lower as the evening wore on. It's no surprise that the highs for the session dallied with the 20-day moving average I warned about the day before. The two-wave rally off lows on the 15 minute charts combined with the moving average to stop the rally dead in its tracks.

S&P 500

The Dow Jones Industrial Average ($DJI) ended the day with a gain of 109.63 points, or 0.91%, and closed at 12,190.01 on Tuesday. Twenty-six of the Dow's thirty index components posted a gain. The top performers were Alcoa (AA) (+3.99%), Caterpillar Inc. (CAT) (+3.27%), DuPont (DD) (+2.64%), and Cisco Systems (CSCO) (+2.44%). The only components posting losses over 0.3% were Procter & Gamble (PG) (-1.34%) and Boeing (BA) (-0.72%).

The S&P 500 ($SPX) gain of 17.16 points, or 1.34%, and closed at 1,295.52. The top percentage performers in the S&P 500 on Tuesday were Monster Worldwide (MWW) (+7%), Tellabs Inc. (TLAB) (+6.42%), Priceline.com (PCLN) (+6.28%), Whole Foods (WFM) (+6.17%), and Cognizant Technology Solutions (CTSH) (+6.11%). The weakest performers were Walgreen Co. (WAG) (-4.21%), Motorola Mobility Holdings (MMI) (-2.86%), Sears Holdings Corp. (SHLD) (-2.16%), and Corning Inc. (GLW) (-1.45%).

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