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The Nasdaq ($COMPQ | Quote | Chart | News | PowerRating) pulled back and touched its 1900 support level earlier in the week, and has now bounced off of that support level and is rallying higher.
The Philadelphia Semiconductor index ($SOX.X | Quote | Chart | News | PowerRating) is pushing higher today. Yesterday the SOX index hit and bounced off of its 500 support line. Among some of the stocks that are helping the semi index are LSI Logic (LSI | Quote | Chart | News | PowerRating), KLA-Tenor (KLAC | Quote | Chart | News | PowerRating), EMC (EMC | Quote | Chart | News | PowerRating) and Intel (INTC | Quote | Chart | News | PowerRating).
Halliburton (HAL | Quote | Chart | News | PowerRating) has helped spark a rally in the Energy sector. Halliburton has bounced off of its $10 support level and is trading higher in today's trade. The Philadelphia Oil Service Index ($OSX | Quote | Chart | News | PowerRating) and the Oil Service HOLDRs (OXH | Quote | Chart | News | PowerRating) have both broken above their resistance line.
The Dow Jones Industrial Average ($INDU | Quote | Chart | News | PowerRating) is rallying from its support line and has been close to hitting its 50-day exponential moving average to the upside. The Dow is higher at 9812.88, up 81.92.
The March S&P 500 futures (SPH2 | Quote | Chart | News | PowerRating) are trading higher at 1136.50, up 7.30. The March S&Ps are rallying off of support and have broken above their R1 pivot.
Sectors in Motion
Strongest Sectors -- TheStreet.com Internet Index ($DOT.X | Quote | Chart | News | PowerRating) is up 3.73%,
and Software ($GSO.X | Quote | Chart | News | PowerRating) is up 3.43%.
Weakest Sectors -- Gold and Silver ($XAU.X | Quote | Chart | News | PowerRating) is down 1.25% and
Biotech ($BTK.X | Quote | Chart | News | PowerRating) is down 1.14%.
Autozone (AZO | Quote | Chart | News | PowerRating) is breaking down from a low-volatility channel on the daily chart. AZO is currently down 1.20 to 63.25 and is carrying a 3-month relative strength rating of 28 from TradingMarkets.com.
Veritas (VRTS | Quote | Chart | News | PowerRating) appears poised to move higher out of a pullback. VRTS is up 2.39 to 46.15.
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