Off the Charts

The summer of 2013 is quickly shaping up to be the 'Summer of the Gap and Nap.' The market has staged an impressive comeback from the pivot lows on June 24, but almost none of those gains have come intraday. The S&P reclaimed its 50-day moving average and almost re-entered its broken uptrend thanks to a series of gap ups followed by doji candlesticks. The S&P finished the day up 0.53%, the Dow up 0.59% while the Nasdaq lagged with only a 0.16% gain.

Price action is always king, so you have to take note of the market's impressive resilience over the last two weeks. However, the intraday lethargy cannot be completely ignored as a potential red flag. I believe this is an environment to remain more nimble, rather than making big swing bets in either direction. With that being said, it would be healthy to see the S&P hold above 1626 going forward. Earnings season, which kicked off tonight with Alcoa (AA), could perhaps re-ignite broader intraday volatility....557 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.