2007-3-20 2007-3-20 We believe that the stock market has started its next leg higher. The Dow Jones Industrial Average had a record close today and the S&P 500 closed above its recent consolidation. We believe it is only a matter of time before the NASDAQ Composite, NASDAQ 100, and Russell 2000 break above 2007 highs.The NASDAQ 100 did fall below its 50 day moving average on Monday, but today the index had a strong close on high volume above the average. It is not uncommon for a stock or index to break below a significant moving average and move back above it aggressively in the days that follow. We believe Monday ended the pullback in the index and the new leg higher has started. Strong resistance is in the 1825 area and a break above 1850 will confirm that the new leg has begun. 88046 text/html http://www.nasdaqwizard.com/midweek012407.html 1.0 EN index,follow We believe that the stock market has started its next leg higher. The Dow Jones Industrial Average had a record close today and the S&P 500 closed above its recent consolidation. We believe it is only a matter of time before the NASDAQ Composite, NASDAQ 100, and Russell 2000 break above 2007 highs. text