New Highs Ahead

09/29/2009 9:50 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

The NYSE Composite and other major averages/sectors held support at the August highs and closed strong on Monday. This is bullish action suggesting a move above last week's highs. The A/D line is acting strong as it held well above its WMA, so it should confirm new highs and a test of the 61.8% resistance is likely.

Related Articles on STRATEGIES