Off the Charts

After several days of consolidation, the S&P (SPY) finally broke out above the September 2012 high of 1474. The S&P closed the day up 0.56% at its highest levels since 2007.

While it was good to see the market break out to new highs, the action still seems a little questionable. The tape is still rather lethargic and there are mixed signals across the board. The breadth of the rally today wasn't impressive, either. However, the trend is still your friend so stay with stocks showing relative strength and consider using the SPY as your hedge at strategic points....766 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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