All these record breaking events should not be a surprise to us as the market has told us to expect newer high. It has kept its words and did what it said it will do. We have discussed in this video on how the advance/decline line was telling us to expect a new high for the SP500. And on this post “DIAmond Is Our Friend” we noticed on December 29, 2014 the Dow Jones Transportation indicated a new high is forth coming for the Dow Jones Industrial.
While we wait for the DJIA to make a new high, let’s take a look at the market and some of the momo stocks.
Click here to view the video if you do not see a video player on your screen.
Here are the potential near term resistance levels for the SP500.
(click on the chart to enlarge)
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