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.