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.
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.
