By John Pisanchik

This week was a great week in the stock market. The break out of the 955 resistance level was confirmed and the most probably move is continued upside progress. I don’t think it will be a roaring bull market. It will most likely be a market that drifts for a few days, then has a spike, and drifts, and on and on. This could create a bit of a boring market, and one that creates false signals, as we have seen in the last 2 months. In the near term, we should get to 1010 tn the S&P Cash Index. Here there is a layer of resistance between 1010 and 1050. Once we get to 1000 it will probably get a bit choppy, and I am sure there will be false signals as a result there. Right now, my momentum indicators are pointing up. Happy Trading.

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