Wednesday, January 18, 2012
Solidly Above Resistance
It's time for the various viewpoints to put up or shut up. The SP500 closed solidly above resistance today while the Qs are only 34c away from an 11 year high. The squeeze long signals that triggered two weeks ago show no signs of weakness. However, the High Low Logic index is flashing a warning sign as it has turned back above 1.00 for the second time this month putting it in neutral territory. A move above 2.0 usually precedes or coincides with a top. It still look like this market has further to run, but it may be a choppy ride.
Posted by Trader Craig at 6:57 PM