Off the Charts

The market finished the day with healthy gains Tuesday but closed off the highs to give traders that feeling of indecisiveness that has characterized the market this month. The S&P 500 opened higher and surged through 1421 early in the session, but momentum petered out in the afternoon as stocks slid off highs.

Overall, the bullish composure remains intact, but follow-through is hard to come by right now. The Nasdaq closed the day up 1.18%, and the S&P and Dow both closed around 0.60% higher.

While the market has developed a bit of a thicker skin regarding the fiscal-cliff banter, there is still an underlying uncertainty surrounding the negotiations. The tough talk has not weighed on the market recently but seems to be preventing a clean breakout. The market slid off highs this afternoon after pessimistic comments from Senate Majority Leader Harry Reid (D., Nev.). The FOMC rate decision tomorrow is another wild card to watch....522 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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