Thursday, December 22, 2011

Approaching Resistance

The Dow and SP500 are approaching resistance at the early December highs.  While there may be a pause there next week, the weight of the evidence points to a likely breakout with the Dow hitting 12800 and the SP500 hitting 1350 in January.  As has been the case all year it could fall apart anytime, but this time should be different.  Unfortunately the Nasdaq indexes are lagging, but they should be playing catch-up in January.

Happy Holidays!  Due to the demands of the season and other matters, I may not post again until after the New Year unless something major happens.

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