Here's a quick follow up to a previous post. You can use these links to follow along.

DOW
http://finance.yahoo.com/echarts?s=%5EDJI+Interactive#chart3:symbol=^dji;range=6m;indicator=sma(50,100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

NASDAQ
http://finance.yahoo.com/echarts?s=%5EIXIC#chart2:symbol=^ixic;range=6m;indicator=sma(50,100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

S&P
http://finance.yahoo.com/echarts?s=%5EGSPC+Interactive#chart2:symbol=^gspc;range=6m;indicator=sma(50,100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

RUSSELL
http://finance.yahoo.com/echarts?s=%5ERUT+Interactive#chart1:symbol=^rut;range=6m;indicator=sma(50,100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined


All 3 major US indicies had double death crosses where the 50 day moving average had crossed below both the 100 and 200 day averages and the Russell 2000 had 1 where the 50 went below the 100 (it's about to cross below the 200). However, since then we've rallied during earnings season and all 4 indicies have crossed above their 50 & 200 day averages. This is bullish action suggesting that buyers are up-paying for securities.

All 4 indicies are approaching their 100 day moving averages and their 61.8 fib retracements off the recent lows.

Today's close in parens

DOW (10537) 100sma=10526 61.8fib=10588
NASDAQ (2288) 100sma= 2324 61.8fib= 2353
S&P (1113) 100sma= 1128 61.8fib= 1140
RUSSELL (662) 100sma= 669 61.8fib= 685

Note : The DOW is above it's 100sma and is above it's mid June high which, if confirmed, will break the lower-high trend we've been seeing since April.

If the rally continues and we confirm break outs above the 100 day SMAs and above the 61.8 fib retracements we could be heading for a retest of the late April highs.

If the rally fails to breakout, we're likely to retest the early July lows.