CISCO AND GE LEAD MARKET HIGHER
CISCO LEADS NASDAQ TRADING... Because of its size, Cisco has a big influence on the technology sector and the Nasdaq in particular. That's why today's chart action is impressive. Cisco has broken through chart resistance formed since February. We'll reserve judgment on the level of trading until after the close -- but it is the most actively-traded stock on the Nasdaq. That's a good sign for both.
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GE STILL CLIMBING... While Cisco is considered a bellwether for the Nasdaq, General Electric performs the same role for the big boarad. GE is also one of today's biggest gainers -- and one of the most active stocks on the NYSE. The chart shows GE having already broken through chart resistance at its late-November peak. That's a good sign for GE and possibly for the NYSE as well.
Chart 2
MCDONALDS AND P&G LEAD DOW HIGHER... The Dow is the biggest percentage gainer of the major stock indexes today. That's largely due to the action in McDonalds and Procter & Gamble. MCD has jumped to a three-month high on very strong volume and is headed toward its 200-day average. PG has been consolidating over its 200-day line and is trading strong.
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