4/10/07 Review: Nasdaq, SP 500, SOX, GLD, OIH, AA

Markets had a good day today with the major indices all closed in the green. Even SOX, the semiconductors, had a good day!

Nasdaq, up 8.43, at 2477.61!
If we look closely, we can see that Nasdaq's 30-day MA is starting to flatten out. A few more consecutive up days should turn it up; but, we'll need to see some strong days, up 20-30 points, to catch up with the upper BB! The MACD and RSI are still rising nicely!

We can see the 30-day MA action more clearly from the SP 500, SPX: See the 30-day MA flattening?! SPX is almost back to the level before the sell-off. Breaking above this level, which is about 1450, should bring a test of the Feb high!

SOX had a strong day! It closed up 3.81, at 476.58. Its MACD just turned positive today. We should see some continued, upwards momentum tomorrow!

GLD, ETF tracking gold, also went up today. Looks like it's starting to move along the upper BB!

OIH, ETF for the oil service industry, made a new 6-months high!
It closed above 150, a psychological barrier, at 152. 52-wk high is at 169.75. It's getting toppy, but, the upwards momentum is still strong, and the monthly chart says there's still room to go!

AA reported earnings above estimates in AH. Let's see if it can help bring some more positive energy to the markets tomorrow. We still need a few more up days to get those 30-day MAs turned!