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tdp2664 InvestorPlace Click to Enlarge The 15-day rally in stocks has lifted the S&P 500 just about 14% and managed to squeeze out a close above the 1,250 mark but right at the 61.8% Fibonacci retracement line from the May-to-August downdraft. I showed this chart in yesterday's morning note, and after yesterday's rally we are smack-dab in the middle of the entire resistance zone marked by the gray box. Click to Enlarge Looking over in small-cap world, we note that the Russell 2000 rallied almost 22% over the same time period and right here, right now, it sits at a horizontal resistance line and the 50% retracement level. Yesterday's rally was a continuation from last Friday's uplift that increased the slope of the rally off the early August lows. Yesterday's rally more or less looked healthy, with defensive stocks underperforming and financials near the front of the pack. Click to Enlarge The resistance levels mentioned on the above charts are all over the place, however, and the industrial stocks as represented by the SPDR Select Sector Fund – Industrial
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