Thursday, January 10, 2013

S&P 500 January 10 2013

We are off and running.  The stock market opened higher, retreated to a short term resistance level of 1462 and then steadily climbed through the day to finish at 1472, up 11.  Both short term and long term momentum are moving more positively.  We are still above the value zone, which sits now at 1450.  Early in the day I thought we would continue you be choppy through the day and pretty much trade sideways.  This would allow the value area to move up and catch up to the market.  It seems for now the market is intent on pushing higher.

We are moving to  I will continue to post through January until we fully transition to the new site.

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