This week has been pretty uneventful for the most part. The week started out at 1416 and ended at 1418. I wrote last week how the key battle ground for the S&P 500 was at 1410. It looks as if the bulls have taken that level but let’s be honest a 5 – 10 point move in the S&P 500 isn’t much at all. I suspect a push for 1420 is inevitable it might even get as high as 1430 but I don’t think the bulls will have significant momentum with the fiscal cliff looming.
I’m sure I sound like a broken record by now. But yes, I am still on the sidelines until I see a definite trend established!
Here’s to Our Wealth!