Stocks Get Closer To Last Year's Record High

The S&P 500 futures contract trades within an intraday consolidation, as it remains above the 2,900 mark. The nearest important resistance level is at around 2,920. On the other hand, the support level is at 2,880-2,900, among others. The futures contract remains close to the new medium-term high above the 2,900 level, as the 15-minute chart shows:

 

Nasdaq Also Going Sideways

The technology Nasdaq 100 futures contract follows a similar path, as it trades within an intraday consolidation. The market slightly extended its medium-term uptrend on Friday, but then it continued to trade along the recent local high. The nearest important resistance level is at around 7,650-7,700. On the other hand, the support level is at 7,600. The Nasdaq futures contract trades along its last week's local highs, as we can see on the 15-minute chart:

 

Microsoft at Another New Record High

Let's take a look at the Apple, Inc. stock (AAPL) daily chart (chart courtesy of StockCharts). The stock accelerated its uptrend recently and it got close to the resistance level of $200. The market continues to trade along the medium-term upward trend line:

 

Now let's take a look at the daily chart of Microsoft Corp. (MSFT). The stock reached the new record high on Friday as it extended its recent advance. The market continues to trade along the three-month-long upward trend line:

 

Dow Jones Closer to Local High Again

The Dow Jones Industrial Average broke above its February local high recently and it extended the medium-term uptrend. The next resistance level is at around 26,800-27,000, marked by the last year's topping pattern and the record high of 26,951.8. On Tuesday it retraced its recent advance. Then on Friday it got back closer to the local high again:

 

Nikkei Breaking Higher

Let's take a look at the Japanese Nikkei 225 index. It accelerated the downtrend in late December, as it fell slightly below the 19,000 level. Then it was retracing the downtrend for two months. In March the market went sideways. Recently the index got close to 21,500-22,000 again. And today it broke above the 22,000 mark:

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