S&P 500 close March 12-13 2013 at 1554.52

The market has put in a nice consolidation move at the 1550 level.  The last two days we have seen a retest down to 1548 and then a gradual build back into the 155x area.  The market looks like it wants to move a little higher and with the all time closing high only 11 points away,  I would expect we would move to it in the next few sessions.  Internally the market looks strong enough to get to the record high level.  Long term momentum is bullish and still progressing week to date.  Short term is a little weak but that is typically characteristic in these consolidation moves.


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

CommentLuv badge