an tSionna {S&P 500-Another Look}

This chart of the S&P 500 is a longer term look.  It's from Chart of the Day {This chart is free but the link leads you to their website which is subscription based.}  Here's what they say:

"Today, the S&P 500 traded up 0.7% and closed at another all-time record high. For some perspective on the current state of the stock market, today's chart presents the long-term trend of the S&P 500. As the chart illustrates, the post-financial crisis rally has been significant enough to put the S&P 500 well into record high territory. In addition, today's chart illustrates that the S&P 500 trades well within the confines of the nearly two-year upward sloping trend channel."

My thoughts:  Both today and yesterday's charts give some credence to the argument that the market has just been resting and absorbing the outsized gains of 2013's 4th quarter.  Time will tell.  We should start getting some clues starting in the next few weeks as earnings season kicks off.

Link:  Chartoftheday.com: A longer Term Look at the S&P 500

*Long ETFs related to the S&P 500 in client and personal accounts.