Dow Jones Industrial Average ($INDU – $10,170.11)

News event: Breaks to a new 2009 high.

Technical comment: The Dow’s intermediate uptrend was confirmed this morning on a break above resistance at 10,119.47. Short term momentum indicators continue to recover. MACD recorded a positive cross over this morning. Seasonal influences are positive until near the end of April. Next intermediate upside technical target based on the breakout is 10,580.

Chart courtesy of StockCharts.com www.stockcharts.com

Street TRACKS Gold Trust Shares(NYSE:GLD) – $108.58

News event: Moves to an all time high with gold

Technical comment: Strength in gold and gold Exchange Traded Funds has prompted strength in a variety of gold equities. Gold equities, that broke resistance levels this morning, included Barrick Gold Corp(NYSE:ABX) – $43.42, Alamos Gold Inc(TSE:AGI) – $10.65Cdn,, Goldcorp Inc(NYSE:GG) – $44.26, Gammon Gold(TSE:GAM) – $10.79Cdn., Silver Wheaton Corp(NYSE:SLW) – $15.70Cdn. and Yamana Resources Inc(TSE:YRI) – $13.41Cdn.)

Adobe Systems Inc.(NASDAQ:ADBE) – $36.46

News event: Upgraded by Goldman Sachs from Neutral to Buy

Technical comment: Adobe currently has a positive intermediate technical profile. Intermediate trend is up. The stock recently bounced from its 50 day moving average and broke resistance at $35.95 this morning. Short term momentum indicators are recovering. Strength relative to the S&P 500 Index has been positive since March. ‘Tis the season for the stock to move higher until mid January!

Chart courtesy of StockCharts.com www.stockcharts.com

CGI Group Inc.(NYSE:GIB – $12.30,TSE:GIB.A – $12.99)

News event: Reported higher than consensus third quarter earnings.

Technical comment: CGI Group currently has a positive intermediate technical profile. Intermediate trend is up. The stock recently bounced from near its 50 day moving average. Support is at $12.07 Cdn. and resistance is at $13.90 Cdn.. Strength relative to the TSX Composite Index has been positive since March. Short term momentum indicators are neutral. Seasonal influences are positive until mid January.

Chart courtesy of StockCharts.com www.stockcharts.com

Don Vialoux

Director of the Canadian Society of Technical Analysts

Comments offered in this report are for information only. They should not be considered as advice to purchase or to sell mentioned securities. An attempt to provide accurate data has been made, but accuracy is not guaranteed. Comments are from Don Vialoux and not from the Canadian Society of Technical Analysts.

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