Sunday, December 05, 2010

Flat top?

The S&P 500 index has been bouncing back and forth between ~1180 and 1225 for the past month or so. (The earlier rally stalled as predicted.)

Stock market sentiment is still quite optimistic, so I doubt that a new prolonged rally is coming any time soon. I think it's more likely that the S&P will dive below 1180 next, but lately I've been wrong as often as I've been right.

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