An tSionna: Breakthrough?

Did the Panzers break through the Maginot line today? By any trend line measure, the S&P 500 {here represented by SPY} broke through all of its downward trend lines as measured from where the market began its sell off back in September. Volume was not great but the market held most of its gains from Friday and tacked on more in a generally positive day. If there is a successful test of these lines in the next several days or weeks then it is likely that stocks will make a run for the next level of resistance which is just around 100. One other thing to note is that stocks have basically now based in a broad range since early October. Stay tuned!

*Long certain ETFs related to the S&P 500 for client accounts.