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Is The S&P Aiming For A New Permanent Price Handle?

Published 08/26/2014, 03:28 AM
Updated 07/09/2023, 06:31 AM

What a great Monday with all our 11 stocks really moving well to start the week off.

Of course, seeing a recent buy back at the 46 area get a buyout offer helped in that regard as ITMN ran up some 35% on the news.

We remain in a strong market that is yet to show me any sign of stopping.

Now that I’ve got a heavy weighting in stocks once again I’ve just got to sit tight until there are signs of a top being in place.

SPY Daily Chart

A great day for the SPDR S&P 500 (ARCA:SPY) as it moved and held past the 200 level well.

I’d love to see more volume but it is still August so many traders remain on holidays.

The S&P 500 touched 2K but couldn’t hold above it yet, but I don’t think it will be long until we have the 2 handle in front of the price on a more permanent basis.

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