The stock market indices suffered losses today, but a last hour sharp rally back brought them back from much deeper losses and closed down nearly unchanged today.
While it certainly is a good idea to continue taking advantage of the bullish trend, a healthy degree of caution should be exercised near current price levels, due to significant impending price resistance and overhead supply.
Things are not getting better. The US government is so deep in the hole it may never be able to get out. It borrows a dollar for every dollar it receives in taxes. So, it's still digging the hole deeper.
The stock market indices had a very strong morning, gapping up and running steadily into the early afternoon, reaching new 2010 highs at 2067 on the Nasdaq 100, 1184.4 on the S&P 500, and 11,155 on the Dow. But they sold off in the afternoon and pulled back into the close to pare back the gains.
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