The U.S. stock market pushed  higher on Tuesday, nudging the Dow Jones industrial average and Standard & Poor’s 500 index to new all time highs. Overnight the Dow Jones index rose 92 points (0.51%) to close at 18,209 points with the S&P500 index putting on 5.82 points (0.28%) to close at 2115 points.

The chart below shows the Dow Jones index pushing through late December 2014 resistance on Friday with further follow through in yesterdays trading. Technically the resistance level of 18,111 points should provide short term support on any pullback.

Dow Jones Index

A similar picture is noticed with the broader market index of the S&P500 chart below. It managed to breakout from the December 2014 resistance much earlier than the Dow Jones and has continued to push higher. Again the technical support level on any pullback should be at the resistance level of 2,093 points.

S&P500 Index

Broadcom Corp (BRCM) :  Breakout from a flag with support at $44.15

Broadcom (BRCM)

Mbia Inc (MBI) : breakout from the downtrend-line and inverse head and shoulders

MBI (Mbia)

If you have any questions on the charts above please fell free to contact me.

Happy Trading

Flavio