Off the Charts
It was a quiet, inside day in the S&P 500 today as the market digested gains from the previous three days. Digestion and rest are healthy for bull markets.
The S&P continues to act well, but it is a bit extended at these current levels as it stretches off the eight-day and 21-day moving averages. Just because the S&P is extended from its smaller moving averages, it does not mean this market is a short. It may just need a day of rest to let the moving averages catch up. There are still some calculated setups in stocks across the board as leading stocks continue to rally and lagging stocks participate. This market is in an uptrend, and dips should be buyable....553 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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