Thursday, January 17, 2013

S&P 500 close January 16 2013

The slow march continues with the S&P 500  finishing basically flat at 1472.  The bears tried to take us down again early in the session but the market again rallied through the day to finish at breakeven.  This has been a slow trudge over the last week but we should get some lift from the value average once it reaches current price levels.  Currently it sits at 1460 and will continue to move higher.  Short term momentum is still pretty flat and long term is still moving up.  We should get some better movement in the market in a few days.  1468 has proven to be a more recent resistance level so that is my downside target if we begin to sell a little bit.

We are moving to the We will continue to dual post on both sites until the end of January when we transition to the new site.

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