US equity rally stumbles over bank results but still has legs
The S&P 500 is extending its breakout above the April and November highs in the
1220 area and is positioned to test the August 2008 highs in the 1300-1315 area.
The next major resistance is 1350-1375. Based on the rising channel from the
March 2009 low, resistance is in the 1400-handle.
I am also confused too, the big gap up white candle in IBM made me sleepless, this is why I ajusted my all shorts to TLT and some GDX yesterday on the long-waited weakness in COMPQ.