EQUITY MARKETS SURGE - HAPPY NEW YEAR
NASDAQ'S MOST ACTIVES - CSCO, INTC, AND MSFT LEAD TECHS HIGHER... Today's NASDAQ rally is being lead by the following top five most actively traded technology stocks: Cisco, Intel, Sun Microsystems, Microsoft, and Oracle. Cisco is currently sandwiched between its 50 and 200-day moving averages (see circle). The stock is trading back above its 50-day near 13 - which is a good sign. The daily MACD Histogram (below chart) appears poised to reverse its current sell signal which bears watching. Intel is up over 6% today and its daily RSI line (above chart) is turning up. Microsoft (like Cisco, is sandwiched between its 50 and 200-day moving averages - see circle), and is currently trading back above its 200-day moving average near 52. A close above this level would be encouraging.
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NYSE MOST ACTIVES - LU, NT SURGE - C, JPM LEAD FINANCIALS HIGHER... Today's five most actively traded NYSE stocks are: LU, NT, C, TYC, and JPM. Lucent is up over 11% and is currently testing resistance near 1.50. NT is up 14% on heavy volume. Citigroup is bouncing off the bottom of its neutral trading range near 35. JPM gapped up this morning and is breaking out above the top of a symmetrical triangle pattern which is bullish. [A symmetrical triangle has two converging trendlines, the upper line descending and the lower line ascending. (see purple lines on chart).]
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