Cisco Breaks Out, Tech Strong
03/09/2010 9:59 am EST
Cisco overcame major weekly resistance at $25.25 ahead of a big announcement scheduled for mid-day Tuesday. Volume was very heavy on the breakout with next resistance at $27.50 and then in the $29.50 area. The NASDAQ regained leadership just a few days after the lows, and unlike the other averages, has made new highs. The A/D line is rising sharply and is above its previous peak, but still below the October 2009 highs. New highs for the A/D line would be quite positive.