The Stage Is Set

The indices didn't make a big move this week but managed to add about 0.5%. What was most impressive was the strength of the underlying support. The market closed near the highs on four of the five days and intraday weakness didn't last long.

A number of bears are arguing that this is a negative because it indicates that too many market players are overconfident and at high risk of being caught in a reversal. While there is obvious buying interest, I'm not seeing wild speculation or overly aggressive buying. It is mostly solid stock-picking, which is nice to see after the the market's behavior during the fiscal-cliff debate....131 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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