Wednesday, January 2, 2013
S&P 500 close 1/2
What a difference 36 hours makes. So we have a least a temporary solution to the cliff and the markets went on a tear. The S&P 500 closed up 36 to finish at 1462, just 3 points shy of the 2012 high. We have moved significantly in a very short period of time. We are definitely green on the market indicator but I am going to hold back on the investment indicator until we get some sort of profit taking retrace. However, once we break above 1462, we could really be off to the races. Long term momentum has moved up strongly and the short term is also up. However, I am going to wait for a correction and then get in.