Off the Charts

The market shrugged off last night's Moody's downgrade of France and a 12% earnings related sell-off for Hewlett-Packard (HPQ) to finish around the flat line today. After Friday's bullish outside reversal and yesterday's potent rally, we talked about the need for rest and digestion, which is exactly what we saw today. Overall, today's action is constructive for higher prices in the future, especially considering the two pieces of bearish news.

This choppy type action could continue tomorrow as the market heads further into the holiday-shortened week. It would be healthy to see the market hover above 1370 to 1370 so the market can sustain higher prices going forward....448 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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