Monday, December 10, 2012

S&P 500 close 12/10

Another tight range by the S&P today.  We could not make it above 1420 for long and traded down slightly in the middle of the day.  Technicals are the same incrementally improving long term momentum and a flattening of the short term indicators.  We need to break up beyond 1425 to get out of this possible head and shoulders pattern.  Sideways is not a good sign at these levels.

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