THREE OF TODAY'S S&P 500 STOCK LEADERS ACHIEVE BULLISH BREAKOUTS
DUKE ENERGY BREAKS RESISTANCE... Three of today's top percentage gainers in the S&P 500 are charted below. All three are breaking through formidable resistance barriers. In a strong utility group, Duke Energy is moving above chart resistance at its June high. Its 40-week moving average has also turned up, which is a sign of an emerging uptrend. Weekly volume also looks positive.
Chart 1
BLACK & DECKER HITS FOUR-YEAR HIGH... The monthly bars for Black & Decker also paint a strong picture. Today's gain has pushed the stock through major resistance at 50 which was the peak hit during the first half of 2002. The S&P leader is now trading at the highest level since 1999.
Chart 2
NAVISTAR EXCEEDS 2002 PEAK... The monthly bars for Navistar International show the stock breaking through its early 2002 peak at 48. That puts this S&P leader in position to challenge the high reached during 1999.
Chart 3
