Stock Market Commentary: Powers Higher -- MrSwing

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Stock Market Commentary: Powers Higher
Apr 15, 2010

Declan Fallon

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The past few days had the look of a tired rally but Intel and JP Morgan added a bit of pep and buyers returned. This piled on the misery for shorts who again were put on the defensive, but it was the activity of buyers which added to the spice of panic covering. For the S&P it was rising support which bulls were prepared to defend. Supporting technicals continued to improve even though the MACD remains flattish.
($SPX)

via StockCharts.com

The Nasdaq enjoyed the best gains thanks to Intel. There is a breakout gap to be defended with some of the strongest buying volume for the year. There is even room to run to channel resistance.
($COMPQ)