Looking at this five-year chart of INDU, we can see we have again approached and crossed the 11,000 line. With the base built over last two years after 2003 all year long steady climbing up, we may enter a new uptrend from here. We need to see some follow-through after breaking 11,000 with decent volume.
IShare Russell 2000 ETF (IWM) shows a pullback into the support area. Let’s see if this uptrend line holds.
DOW Jones Average seems to be testing the support area.
GOOG is at the uptrend line.
QQQQ remains strong in the uptrend, but let’s see if it can break this resistence.
HNP is right at the previous high after breaking the uptrend line. It’s probably fueld by recent news on China’s rising retail price in electricity. Since it’s forming a double top, it’s more likely to see it come down again or at least a pull back.