Click for larger image
Notice the following on the daily chart:
-- Prices are still above the downward sloping upper resistance level
-- The 20 day SMA is now above the 50 day SMA
-- The 10 day SMA has moved higher, although it is a preliminary move
Bottom line: the market wants to rally, but it needs a fundamental reason to do so. I think the markets are waiting for a better read on Washington's policy response.
