Market rallied based on good earning reports (Bear Stearns and Costco) and Eco numbers (lower jobless claims and stronger Empire State report which was released one day early). Oil also traded higher to 62.51, +1.14 (Jan07 contract). 10y T 4.595 +0.018, $USD 83.67 +0.29, Gold 630.60 -1.80.
QQQQ as stated earlier, with the breakout from the formation, it has traded to upper resistance 44.50 with the high of 44.57 at which exiting 60m long. $SPX also traded to the upper price channel TL resistance with the breakout from the recent trading range. Also note the TL resistance on daily at where SPX traded as intra high at 1427.23 which was the target with the breakout.
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