Stocks opened weak, but quickly recovered with techs leading the way. Microsoft (MSFT) opened at 27.81, firmed and then surged with a move above 28.2 by midday. This keeps the rising channel alive. Last week's low marks support on the price chart. The February lows mark momentum support for CCI.
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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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