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| Eric Marvin, CFP® |
When most traders and retail investors took off early on Friday to start their Christmas holiday the S&P 500 was busy moving above its 200 Day Moving average. The number to beat was approximately 1259 and the index had no problem doing that closing a little above 1265. At these levels the market will be fighting resistance to try and stay above the moving average. I personally would like to see a close above the 200 Day two or three days in a row before I start to prepare for more positive strength. With volume being extremely light because of the holiday season you could see a slow continued grind higher in the index, or a reversal down from the current resistance levels.
The S&P 500 is an unmanaged index. Investors cannot invest directly in an index.
Past performance is no guarantee of future results.
Eric M. Marvin
CFP® in Fort Myers, FL
JPT122711-2106
