Good day on Wall Street, as the DOW was up 83, the NASDAQ up 32, and the S&P up 11.

The DOW had been making the pull back I expected today, as it was down as much as 96 points at one point intra day, but then rebounded after the fed announced that they will hold interest rates low until late 2014. See chart below:

At it's lowest point, the DOW was down about 200 points from it's recent high last week. I think that was a good spot for a technical rebound, and the fed announcement was the catalyst. Today's high was 12,778, which is just 22 points away from my 12,800 target. With the RSI almost as 70, we may not see much more upward movement tomorrow. However, there is a chance that we will have a breakout over 12,800 resistance up to 13,000. At that point I would think it would be time to exit the market for a bit. We'll see how it goes.

¶ 1/25/2012 04:21:00 PM