Approaching new high | stockbee

10/18/2012

Approaching new high

Dow Jones 30 and S&P 500 are within 1% of new high. Market established a high in September after the Fed decision to keep rates lower for extended period of time. Since then markets have been range bound for 4 weeks. Now the large cap indexes are in striking distance of the high.

The Nasdaq and Small caps are the laggards. They are down 4% from high. The small speculative stocks are having tough time putting sustained rally together this year.

The earnings trends so far are in line with low expectations. As the season progresses more clarity will be possible.

As of now range expansion based swing trades on Triple ETF is what is working.


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