Off the Charts

It was a very quiet day in the market as the indices closed the day in the red. The S&P (SPY) closed the day down 0.31%.

The market is currently resting as it digests last week's impressive rally. This is healthy action in order to sustain higher prices going forward. The S&P rallied more than 4% last week after the fiscal cliff deal, which was the biggest weekly gain for the index since December 2011. From a technical standpoint, it is encouraging now to see the S&P hold onto most of those gains from last week as it flags in front of the September highs of 1474. The market could rest this week ahead of earnings season....731 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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