I could not blame anyone if they bailed out of the market tomorrow before 12pm, noon, to lock in the gains for the month of January. Considering how bad last year was, it’s not hard to see the reason to lock in. There has been a battle at $1292 the last three days and finally today we busted through and closed 3 points above it at $1295. If we hold an close above this level Friday, just know that the next line of resistance on the S&P is $1350. That will be another 55 points or 4.2%. I see nothing at the moment that will stop this uptrend with the exception of news from Europe. Early earning reports so far have been good and I expect that most will be good. Do I listen to the charts or my head? It is hard because my head is saying pull out, but my charts are saying stay in. Where is that damn crystal ball?
No comments:
Post a Comment