We head into the second half of the session with another rally on our hands. The Dow Jones Industrial Average (DJIA) is taking the lead with a gain of 170 points.
Turning to the sector action shows housing, yesterday's strongest group, is taking the lead again. The SPDR Homebuilders (XHB) is now in a position to challenge the short-term highs that were hit earlier this month. Financials are also strong with the Regional Bank HOLDRS (RKH) and Broker/Dealer Index (XBD) each gaining more than 2%
Something to keep an eye on here is the daily chart of the Dow Jones Industrial Average (DJIA). Last night I noted the DJIA was struggling to get back to challenge resistance. With today's rally, that Dow is tickling the lower end of the overhead impediment.
Chart Courtesy of Thomson Financial
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