Last week we had 3 days of pullback on low volume, on Monday market bounced back. The breadth trends continue to improve.
The rally got some help from encouraging news on fiscal cliff negotiations. As a result we are now at level that started sell off post election. Since then we had massive stimulus announced by Fed. Let us see if that acts as a catalyst for taking out that level.
Next week will be very thinly traded due to holiday's. So probability indicates this move might continue in to new year.
The rally got some help from encouraging news on fiscal cliff negotiations. As a result we are now at level that started sell off post election. Since then we had massive stimulus announced by Fed. Let us see if that acts as a catalyst for taking out that level.
Next week will be very thinly traded due to holiday's. So probability indicates this move might continue in to new year.
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