Off the Charts

The S&P continues its recent winning streak as it finished higher today for its eighth straight session in a light summer volume tape. The S&P finished the day up 0.14% although the Nasdaq finished slightly better today, up 0.21%. 

This market does not seem to understand the word "rest" at this point. It continues its climb higher since the June 24 pivot low of 1560. The rally saw an extra boost higher after reclaiming its 50-day moving average on July 5. The market remains overbought at this point as the S&P stretches further away from its short-term moving averages and the trading oscillator stays at overbought levels....610 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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