Below is NYSE chart. We have two trendlines in play with the rally since the Feb lows. One is broken and was retested yesterday, the other is holding nicely. Both trendlines are rather steep. The trendline that is not broken will be around 7600 tomorrow. Also noted on the chart below 7600 is an important level on a closing basis on the NYSE. With trendline support and 7600 level support tomorrow I have to believe its gonna hold (Double support is usually a good bet.
In the mean time yesterday's strong breadth day kind of held, less than I would have liked to see. I noticed as yesterday's close didnt hold intraday it hit our 7600 level and turned around. Often when a key breadth level doesnt hold it goes to the next one.
7550 and 7600 are strong breadth levels and have been tough and will continue to be tough for the bears to penetrate.
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