Don't Hold On Too Long

The region in the S&P 500 just above 1388, which we were watching last week, held very well, leading to the current rally. In fact, Monday's move was enough to make a new high in the S&P but not the Dow or Nasdaq.

The volume on the advance was still low, indicating a lack of enthusiasm in spite of the strength. So, as yet, I do not see this as a legitimate breakout to new highs. It still looks as though we are in a consolidation area that began three weeks ago, albeit right at the highs of the zone....394 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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