Santa Claus Rally Or Coal In Stockings?

Trust:2
Votes:9
Views:508

It was a light volume, holiday-shortened week for the markets the past week, and the S&P 500 stayed within its tight trading band of 1,083 and 1,112. The lower end of the trading band is also where the 32-day moving average coincidentally comes up. Click here for a tutorial on how moving averages come into play in stock trading. Meanwhile, what seems to be the more powerful support force that the market is coming up against is the trendline support coming from the March 2009 lows, when the markets bottomed out.

Vested Interest: 
Disclosure: No personal positions
Tickers: