20-DAY MOVING AVERAGES ARE HOLDING FOR MAJOR STOCK INDEXES -- TECHNOLOGY SPDR NEARS TEST OF OLD HIGH -- APPLE HAS A BREAKOUT DAY

STOCK INDEXES MAINTAIN UPTREND... Stocks experienced some minor profit-taking over the last week but have maintained their uptrends.   All three of the major stock indexes have found support along their 20-day moving averages.    Chart 1 shows the Dow Industrials bouncing off their green 20-day line.   Charts 2 and 3 show the S&P 500 and Nasdaq 100 (QQQ) doing the same.  That's usually the first line of support during a market pullback.   All eleven sectors are in the black today with the leadership coming from energy, materials, utilities, financials, and industrials.

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TECH SPDR NEARS NEW RECORD...Technology stocks have lagged behind the broader market over the last three months.  But may be nearing a new record.   Chart 4 shows the Technology SPDR (XLK) nearing a test of its early September high near 127.  It's getting some help from Apple which is its biggest percentage gainer today.

APPLE TURNS UP... Apple (AAPL) is having a breakout day.  Chart 5 shows the stock rising to the highest level in more than three months to turn its short-term trend higher after completing a triangular consolidation pattern a couple of weeks ago.  Apple is also the biggest percentage gainer in the Dow and one of the day's top gainers in the QQQ.

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