Off the Charts
The S&P (SPY) tacked on another day of gains as it approaches the 1500 level. Today was the fourth positive day in a row for the S&P since the index broke above September 2012 high of 1474 last week. International Business Machines (IBM) accounted for all of the gains today in the Dow, which was the strongest index with a 0.49% gain.
There is not a ton to add to the last few newsletters as we continue this slow, methodical, low-volume melt up. There continues to be solid sector rotation, and you have to obey the price action above all else. Be selective and don't chase exuberance, but continue to respect the trend. Consider using the SPY as your hedge at strategic points....684 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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