Considering all the market headwinds:
- Concern over European Debt
- Concern over US Debt
- Concern over market volatility
- Concern over super low interest rates
It's actually surprising the market is still up a few percent for the year. In today's video review I chat briefly on about this as well as review a chart on the S&P 500 (the one I've been using a lot lately ;))
The stock market is still bouncing around between support and resistance areas and has not definitively chosen which direction it really wants to go. Which, while frustrating, is likely to be decided in the next 3-5 weeks.
I'll keep a close eye on these levels and post to the blog just as soon as the next meaningful shift in market momentum is apparent.
Enjoy and thanks,