S&P500 ? Heading for 1035 resistance (bullish)
NASDAQ ? Strong rebound at 6-month uptrend line (bullish)
Dow Jones Industrial Average (DJIA) ? Heading for 2009 high
Retesting 2009 high: The index could be heading back up to re-test the 9628 level (2009 high) in the days ahead after rebounding strongly last week.
Bearish divergences: However, with the RSI and MACD indicator still signaling a bearish divergence to the price action in the last 1 month, the 2009 high could prove too strong an obstacle to overcome.
S&P500 ? Heading for 1035 resistance
More upside in the days ahead: After breaking above the key 1000 level, we could see the index heading towards the 1035 resistance in the days ahead.
Warning signs from indicators: However, with both the RSI and MACD indicators showing bearish divergence to the price action currently, the index could potentially be heading for another significant correction if it fails to conquer the 1035 resistance.
NASDAQ ? Strong rebound at 6-month uptrend line
Heading for 2009 high: With the index rebounding strongly from the 6-month uptrend line, we could see further upside in the coming week towards the 2060 resistance (2009 high).
Beware of bearish divergence signals:With both the RSI and MACD indicator already showing bearish divergence to the price action, it pays to be cautious as the index look to re-test the 2009 in the days ahead.
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