The Seasonal Trend Points Higher

Posted by Brooke Thackray Market Letter

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S&P 500 Technical Status
After the election the market dropped sharply as investors were eyeing the diffi culties of solving the fi scal cliff and the uncertainty of a resolution before year-end. The market soon refl ected the conclusion that perhaps it had overshot the situation and bounced off its support level at 1350 and rallied strongly into November month end. The S&P 500 is currently pushing up against resistance 1420 and is sitting on its 50 day moving average.

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