Off the Charts
It was a fairly quiet session as traders anxiously await the Apple (AAPL) product release on Wednesday and the Fed announcement on Thursday. Overall, the market rebounded well after Monday's pullback, as the Dow led the way higher today.
Last Thursday, we saw an aggressive move higher in the S&P as it broke out of a very tight range to new multi-year highs. The breakout last week should lead to a multi-week move higher, but after such a potent move on Thursday, a little bit of rest was in order. The S&P 500 is proving its commitment to the rally as it flags above the prior breakout of 1422-1426. Typically, what was resistance becomes support. Rest and small pullbacks are healthy in bull markets....836 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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