Sunday, March 10, 2013

Rally In Indices Very Likely Contiunes For A While

Updated for WSR dividend on 3/8/13

Since the sell off of late February, SPX has rallied in a relatively steep price channel (orange) to a new high.  After tagging the upper channel line (upper 1550's or lower 1560's) in the next couple of days, SPX very likely sells off slightly and starts trending higher in a new and shallower price channel (thick blue). 

 Market is in a good shape and major indices very likely continue pushing higher for another month or so.  My plan is to do more buys as indices dip. 

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.