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Oct 11th, 2010: Update 3 – Mid-day

Posted by pugsma on October 11, 2010

1:15 pm EST:  I took a quick look at the weekly charts on the SP-500, DOW-30, Nasdaq and Russel-2000.  They are all looking decidely bullish.  The SP-500 is clearly lagging the rest, as it has not yet reached its 200-week SMA (1196) and other key indices have crossed over the 200-day SMA.    The DOW-30 is sitting just above its 200-day SMA of 10,980.  The Nasdaq and Russel-2000 are well above the 200-day SMA.  The Nasdaq has a achieved a “Golden Cross” on the weekly with the 50-week SMA above the 200-weeks SMA.  The Russel-2000 weekly “Golden Cross” is coming up quickly.  All 4 indices have bull crosses on the MACD and a RSI well above 50 level in the bull market zone.

SP-500 Weekly Chart:

DOW-30 Weekly Chart:

Nasdaq Weekly Chart:

Russel-2000 Weekly Chart:

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