S&P Banks Gain; Dow Touches Resistance
Declan Fallon | Apr 23, 2014 12:33AM ET
The S&P banked another gain while the Dow touched resistance. Percentage gains in the Russell 2000 and Nasdaq were greater than the Dow and S&P, but the outlook for the latter indices looks better.
The Dow is nicely positioned to break upside, perhaps by the end of the week. Tuesday registered as an accumulation day, marking good demand from buyers. Bears may try to push their luck tomorrow, but the close proximity of 20-day and 50-day MAs makes any selloff unlikely to hold.
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