Catch a New Year's Pop

The seasonal pattern suggests continued broad strength into mid-January, and while this is a time of year to reevaluate longer-term or intermediate-term positions, it's also a time to profit from the potential New Year's pop. Stocks with improving technicals, and with prices poised near resistance, should be on your radar screen.

XLU -- Daily Source: View Chart » View in New Window »

One example of this is the Utilities Select Sector SPDR (XLU), which has been basing under a key level that has acted as both intermediate support and resistance for the last five months. The consolidation resembles an inverse head-and-shoulders pattern, with neckline resistance reinforced by the 50-day moving average....381 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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