Off the Charts
The market continues to trade in a range over the last six sessions, consolidating ahead of the watershed Greek elections. With Greece potentially heading for an imminent exit from the eurozone, investors have been hesitant to make big bets in either direction. The markets closed the day up strong, with the Dow Jones Industrial Average the biggest gainer at 1.28%.
The S&P 500 is holding a higher level of support around 1305-1307 after putting in a low last week of 1266. There is a good case for the bulls and bears right now, which means "less is more" until there is more clarity about further direction. The more time that the S&P continues to hold above 1307 and base below 1335-1340, the greater the chances the index will successfully trade back above that level....704 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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