WALL STREET >>> Technical Charts 11 Sept 2010

Please click on images to ENLARGEDJIA Tackles 200-Day Trendline With Another 47.5 pts Win

22 of its 30 components closed higher. Chevron paced the advancing equities, thanks to a bullish session for crude futures

The Dow finish above resistance at its 200-day moving average and the 10,450 region, it also notched a second consecutive weekly close above its 20-week moving average.

The S&P 500 Index (SPX – 1,109.55) wrapped up the day with a gain of 5.4 points, or 0.5%, but stopped just short of challenging its 200-day trendline. For the week, the SPX added 0.5%.

The Nasdaq Composite (COMP – 2,242.48) closed up 6.3 points, or 0.3%, bringing its weekly gain to 0.4%. Like the Dow, the SPX and COMP both ended the week above their respective 20-week moving averages.

QUOTE of the day

"In the end, it was another light-volume rally. Nonetheless, the good news is that the recent economic data has turned a little bit better. The bad news is, we're still stuck in the same trading range we've been in for months now."

HAPPY TRADING