Markets Rally Off Lows, Watch This Level
The major stock indexes started the trading session down by 300.00 points just after the opening bell. Slowly throughout the trading day the major stock indexes have rebounded off the morning lows to trim the day's losses. Traders should now watch for some key resistance levels on the SPDR S&P 500 Index (NYSE:SPDR) around the $117.40 level. The SPY could see some intra-day pullbacks around these levels.
Some leading stocks that are trading higher today include Netflix Inc.(NASDAQ:NFLX), Amazon.com Inc.(NASDAQ:AMZN), Research In Motion LTD(NASDAQ:RIMM), and Apple Inc.(NASDAQ:AAPL). When the leading stocks can catch a bid in a bad market that is sometimes the way the market talks to us. Traders should watch these stocks for further upside should the major stock indexes continue to trade higher throughout the day.