09 December 2010

S&P500 : Bull Run Extension ?

  • Weak payrolls notwithstanding, recent price action indicates possibility of higher levels in the coming months.
  • Guess US tax cuts extension unequivocally positive for equities (when bond yields settle at new higher equilibrium).
  • Bullish call negated if we fail to close Dec10 above 1220 on monthly chart. (Be mindful of possible double top on weekly).

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