... a sudden (yet overdue) retracement took the major US Equity Indexes back to their rising 20 day moving averages, let's update the current structure and short term reference levels in the S&P 500 (INDEXSP:.
Perhaps more important was Friday's surge in the NASDAQ Composite Index (IXIC) which broke above key trend line resistance that dates back to 2001 at 3,330.
During the session, the index added 11.4 points, or 0.7%. Tech stocks were the day's outperformers sending the Nasdaq Composite (COMP) up 27.8 points, or 0.9%, to close at 3,307.02. In intraday activity, the COMP pegged a new 12-year high of 3,315.33.
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