eWallstreeter Stock Market Chart Talk-

By StockTradingToGo

Stocks continued to sing to the tune of "fiscal cliff".  The market gapped up to start the day and it seemed like a very calm session until comments by Majority Leader Boehner roiled the markets.  The entire day's gains were wiped out in a matter of minutes.  Of course the market rallied strongly on comments from the exact same man yesterday.  Then within 20 minutes,  comments by Senator Reid calmed markets. Of course the market sold off on comments from the exact same man two days ago. You get the picture; it is a circus out there with the markets as hostage with no change in sight in the near term.  That said, by the end of the day markets closed near the highs of the day as a very whippy November is now poised to close with a gain as impossible as that seemed mid month.  The S&P 500 gained 0.4% and the NASDAQ 0.7%.

The S&P 500 is now back near its descending 50 day moving average, which just so happens to be coinciding with the April 2012 highs - an area the market had trouble with on the way up in August before finally brea