S&P with a dream closing. Big cap stocks also participated in today's rally. Looks like we have an immediate resistance at 1325 region and next big resistance is at 1350. Based on today's action we should see little follow through tomorrow and should not see closing below 1289. Since December 21st, S&P is moving up very fast without a single major sell-off.... soon we will reach an over bought condition and should be able to see little pullback... and we will find the real strength of this market at that time.
Don't neeed to mention again.... but I am still bullish until we close below 1273.
No comments:
Post a Comment