Overtime

It appears the market was able to regroup after the spook from the Fed discount rate hike announcement. The SP500 was able to hold above the 1100 level, the DJI was able to keep its gains for the week and closed above its 50 SMA, and the Nasdaq 100 also was able to hold above its 50 SMA. Neither the bulls nor the bears were able to pull away. Looking at the various sectors performance, it appears there is a slight momentum favoring the bulls in the coming week. Is this momentum strong enough to carry the market back to the January, 2010 high? We’ll need to see who will win this game, and the game is currently in overtime. Keep watching the charts!

SP500:



DJIA:



Nasdaq 100: