Off the Charts

The market snapped its five-day losing streak in today's session as this time around a last-hour surge took the S&P from near the flat-line to a 0.35% gain. Stocks were strong in the first 40 minutes of the session but gave all of those early gains back in the next hour, and the choppy action continued for the rest of the day.

Overall the action remains lethargic despite today's advance, but we at least have a new a new lower level pivot forming at 1690. In addition to the recent action being choppy intra-day, volume has been light. It feels like investors, because of the Fed's decision not to taper, are not yet compelled to sell, but also not eager to put new money to work in the market with the thought that tapering is just a matter of time....409 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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