More Gains Ahead

Based on weekly charts, the positive momentum in prices has not faltered yet

By Paul Cherney

For the S&P 500, a move into the brick wall of resistance in the 1153-1200 area looks likely.

For the NASDAQ a move into the beginning of thick resistance in the 1934-2103 area looks likely.

Immediate support for the NASDAQ is 1883-1867. Intraday chart resistance above Tuesday's close is 1897-1941. The thick resistance is 1934-2103, which makes the 1934-1941 area a focus of resistance.

Immediate S&P 500 resistance 1145-1155. Brick wall resistance is 1153-1200.

Based on weekly charts, the positive momentum in prices has not faltered yet.

Cherney is market analyst for Standard & Poor's