Off the Charts

It was a choppy day in the indices today as they opened slightly negative, traded above yesterday's high, but failed to hold onto those gains in the last hour-and-a-half of the day.

There was a minor push-through failure in the S&P today as it failed to hold above yesterday's high of 1632. We have stated before that the market was due for a rest as it stretched from its short-term moving averages since the breakout above 1597 last Friday. Yesterday's low of 1622 contained today's weakness but will that remain the case going forward? Use the new short-term pivot points from today as your levels to judge market composure. Rest or digestion is key in bull markets in order to sustain a longer-term rally....818 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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