Off the Charts

The market opened higher this morning and traded within a narrow range for most of the session before extending higher into the close. The Dow closed at another all-time high while the S&P is now two points off its all-time closing high. Today was a quiet session, and that type of action could continue throughout this holiday-shortened week. The S&P and Dow both finished up 0.78%.

The S&P continues to hold above the prior breakout level of 1530 and the 21-day moving average. We have gotten choppy action over the past week, but the prevailing trend remains to the upside. Can the S&P see upside follow-through tomorrow? The upper level range looks poised to potentially break above highs of 1564....618 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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