Market Snapshot
S&P 1500
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| Getting close to a standoff between the bulls and the bears. |
Chart View
Market Snapshot
S&P 1500
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| The market failed to hold above the resistance zone after an attempted upside breakout. |
Market Direction Model
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| The market has enjoyed a nice low volatility drift higher for a number of weeks.
A market pullback at this point would not be at all surprising. At this point, I don't know if it will be a mere pause or small dip. I am definitely not expect any big decline though. In the FMOC minutes, Uncle Ben Bernanke said he has his finger on the QE trigger and will come to the rescue if conditions deteriorate further. This alone should provide some cover for investors.
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