Wednesday, February 3, 2010

S&P 500 and Nasdaq Break Above Intraday Downtrends

Lifted from Bespoke Investment Group:

With Tuesday's rally, both the S&P 500 and Nasdaq have broken above their intraday downtrends that have been in place since their January highs. While the bulls would love to declare victory, there is still a lot of work to do before either of these indices get back to their levels of two weeks ago.