Along with stock prices, all of indicators fell a bit last week – though none moved into sell territory.

Our trend analysis shows that the indexes have flattened out. Using trend analysis, the key points of support and resistance for the S&P 500 are 1067 on top and 1000 on the bottom. TheNASDAQ's key numbers are 2140 and 2025. For the Dow Jones Industrials, the ceiling has been 9805 and the floor somewhere around 9550.

If any of the indexes close above or below these recent support or resistance levels, it's a good bet they will continue in that direction.

Our technical analysis of the NASDAQ, Dow and S&P 500 shows the indexes stepping up in a pattern of higher highs followed by higher lows. As long as we don't see the indexes make new intermediate lows and close below recent low levels, this uptrend should remain intact. For the Dow Jones, that first step is 9280. The NASDAQ's number is 1967. The S&P 500 finds the step at 995.

It's also interesting to note, with a brief exception in July, for the most part of this rally the indexes have been bouncing along their rising 50 day moving averages. The 50 day moving averages are central points in determining the markets' direction. As long as we stay on or above the average, we will remain in an uptrend. Keep an eye on the index charts to monitor where the indexes are in relation to the support levels and the 50 day moving averages. If they get close to either, start to monitor your portfolios a bit more closely. Of course we are always monitoring the markets action and will notify our readers if we feel something is about to change.

Today's Correct Call readers will find 1 Trading Earnings pick for the week.