The Dow surged over 150 points on Thursday and broke above its May high. With only 30 stocks, chartists can use the CandleGlance feature at StockCharts.com to find which stocks led the move. The Dow is a price weighed average and the stocks with the highest price have the most influence. This means stocks with big gains (<1.5%) and prices prices (> $60) carried the day (CVX, MCD, JNJ, TRV, XOM)
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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