Off the Charts

The wedge pattern resolved to the upside today and showed commitment to the move by closing above 1460 on the S&P 500, although we didn't get the momentum that bulls would have liked to see ahead of the jobs report. All major indices closed the day in the green, with the S&P leading the way, up 0.72%.

At this point the market is set in motion to test new highs, but there are still mixed signals. Apple (AAPL) showed relative weakness today, as tech is a story of the "haves" and "have-nots." The financials have been showing strength lately, and oil stocks have lagged. It would be wise to stick with positions you like, but use a hedge going forward, as there have been many tradable setups....486 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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