S&P 500 Snapshot: Third Day of Gains Third Consecutive Interim High

From dshort.com - Advisor Perspectives
January 17, 2013 - 5:36pm

Jan 17, 2013 Doug Short  The S&P 500 has had three consecutive daily gains and set three consecutive interim highs. But today was different. The pattern of late (the last four sessions) has been for the index to selloff at the open and then rally near the high or slightly above. But today's strong unemployment claims report and housing starts triggered an opening rally. The index continued rising to an interim high, up 0.85%, by mid-afternoon but then lost some steam to close with a gain of 0.56% -- as I mentioned earlier, a new interim high.More...

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