Off the Charts
The market ended its three-day losing streak today, led by the Nasdaq. After three days of selling pressure to close last week, the S&P (SPY) held support of its 50-day moving average Friday, setting the stage for today's bounce. The major indices closed the day on highs the Nasdaq gaining 1.32%, the S&P up 1.19% and the Dow up 0.76%.
Since the Nov. 16 reversal, the S&P has been stair-stepping higher as it reclaims its key moving averages. During that time, the action in the broader indices has been somewhat choppy, but there have been select opportunities if you focus on the best patterns. While most of the best trades in December have been of the short-term cash flow variety, we have seen several stocks reward swing traders with moves out of constructive patterns....933 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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