Stocks Rocket Higher

05/10/2010 11:47 am EST


Thomas Aspray

, Professional Trader & Analyst

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The plan to rescue the debt-starved European nations has pushed the futures sharply higher in pre-opening trade as the June e-mini S&P were up 48 points with the Dow futures up 385 points just before 7 am ET this morning. The 50-day MA on the S&P is at 1169 with chart resistance strong in the 1180 area. The NYSE Composite has strong support at 6600 just below Thursday’s lows and the A/D line did confirm the recent highs, indicating that the intermediate trend was still positive.

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