Off the Charts

The S&P (SPY) closed the on the lows of its session as it finished negative for the fifth straight session. The S&P closed the day down 1.10%

As stated, this market is very dependent on a fiscal cliff resolution at this point. Headline-driven tapes can be hard to trade so if that is not your style it's fine to be hands off until there is more clarity to the situation. Yesterday's afternoon bounce is frustrating for traders across the board as it was strong enough for shorts to lighten up on their positions and for longs to test new buys. A cautious approach remains best until a fiscal cliff compromise gets ironed out....426 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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