Off the Charts
It was a fairly lackluster day in the indices today as they grinded higher to tack on another day of gains. Tech helped lead the way higher, and the beaten-down, laggard stocks played catch-up, although the banks still remain a drag on the market. The Nasdaq led the way higher as it closed the day up 0.79% while the S&P 500 and Dow both closed up 0.27%.
Although the S&P is continuing higher, it is not seeing much traction above the 1375 level. This week and next week is when most notable companies report earnings, and there have been decent setups in earnings plays, which is where most traders are making their money at this time. Now that the S&P is breaking above the wedge pattern on the daily chart, it has room up to 1390-1405....758 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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