Slow and steady seems to be the theme for the markets. We ended last week mostly up and most traders out there are anticipating another week where we see across the board gains. There is some news out there that is causing bulls to pause somewhat. 1. Will Spain ask for a bail out? 2. With the recession that most European countries are going through, how will it affect Asia? 3. Apple is experiencing some let down after hitting $700 in September what will happen with Apple?
These kind of questions cause market volatility because we don't know the out come of these answers definitively, but things on the SPY chart show that no major trend or support has been blown through and we are still heading up. Assume the up trend is still up, because it is, until it changes.
Happy Trading!
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