The S&P 500 and Dow were bullish today, rallying back from lows on increased volume to close near the middle of yesterday’s drop.

Energy and Basic Materials were the best performing sectors and the Dow moved above the 11,000 mark again. In economic news, the FED announced that rates would stay low which was expected.

Here’s a chart of the S&P with some analysis:

S&P 500 - Price and Volume Analysis

We’re seeing a pickup in volume lately and prices have been stalling. I’m not claiming a top, but this could be a resting point due to profit taking. Watch for rising prices the rest of the week to confirm today’s revival of the rally.