The rally placed the Dow within striking distance of a key level: crossing 14, 000.
Italian bond yields have declined below the critical 7% level, after last week trading above that key level.
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Clearly the 2011 close at 1257.60 and the low for 2012 at 1258.86 represents a key level of support.
The pivot is the key level of support or resistance and the longer the time period the more important it becomes.
This corresponded to the key support in the rally from the May 2012 lows and should now be a first key level of resistance.
The chart shows that is well above the key level of 50 and a move above the November high of 60.9 would be very positive.
The key level was just above Dow 12, 000.
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Over the last 24 hours the 1.3000 level has not acted so much as support or resistance but more as a pivot point as the price has moved about 45 pips both above and below that key level.
The yen's drop below 100, a much-watched key level, has long been anticipated as the Bank of Japan unveiled aggressive monetary policy plans early last month aimed at boosting growth at home by spurring lending and weakening the currency.
These divergences then must be confirmed by a move in the RSI below a significant support level or above a key resistance level.
While CSX followed a similar path, it has fallen below the key technical level.
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This week, the Dax violated my key support level at 7, 500 and closed below it.
Bullish investors will be rooting for RIMM to hold above this key support level through the close today.
Fresh chart damage was inflicted Wednesday as prices dropped below a key support level at the November low.
The key support level to watch is at 4850 as a weekly close below this level would confirm a new downtrend in the Transports.
The yield on U.S. Treasurys on Tuesday touched 2%, a key psychological level that often prompts investors to dump long-dated bonds and buy risk assets.
This rose to 49.1 from the final September reading of 47.9, showing improvement although it remained below the key 50 level that is the breaking point between economic expansion and contraction.
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When you look at the weekly graph for the Philadelphia Semiconductor Index (SOX) you see that semiconductors are on the cusp of its 200-week simple moving average at 341.34 and that a trend below that key technical level indicates risk to its annual value level at 270.98.
The easing of the political worries helped yields on Italian 10-year bonds pull back to under 7%, which many analysts said is key as that level is where Greece and Portugal need to reach out for help.
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With this being said, the following commentary is truly not intended to be a political view point and is really just an attempt to highlight the high level key financial metrics of the U.S. Federal Government in a fact-based approach.
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In normal times, for most countries, the key factors determining the level of bond yields are not the government's budget plans, but investors' forecasts for future growth and inflation.
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Mr Brown said pupils were expected to have reached level four of Key Stage Two by the age of eleven.
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