Stock indexes hitting strong technical resistance

S&P 500 (Figure 2)

Index Wrap-up

The Dow Jones Industrial Average ($DJI) ended the day on Monday with a gain of 104.83 points, or 0.89%, and closed at 11,913.62.Twenty-three of the Dow's thirty index components posted a gain. The top performers were Caterpillar (CAT) (+5.01%), Bank of America (BAC) (+4.02%), JP Morgan (JPM) (+3.44%), and Alcoa (AA) (+3.42%). The weakest were Procter & Gamble (PG) (-1.34%) and Verizon (VZ) (-1.31%), and AT&T (T) (-0.86%).

The S&P 500 ($SPX) finished the session with a gain of 15.94 points, or 1.29%, and closed at 1,254.19. The greatest strength was in the materials and financials. Top percentage performers in the index were CBRE Group (CBG) (+9.48%), Alpha Natural Resources (ANR) (+9.48%), and Freeport McMoran Copper & Gold (FCX) (+7.98%). The weakest industry groups were telecoms and consumer staples and the weakest individual performers were Kimberly Clark Corp. (KMB) (-4.59%), Marathon Pete. Corp. (MPC) (-4.02%), and Sprint Nextel (S) (-2.89%).

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