Gathering Momentum

After spending couple weeks consolidating, the market is gathering momentum for a year-end rally. The SP500, Nasdaq 100 and the DJIA all held support near or above their 50 SMA and built a nice small base. When the year-end rally kicks in, the major market indices will likely break above their recent high.

Here are the charts for the market indices:

SP500:



Nasdaq 100:



DJIA: