Weekly Forecast - Dec. 12th
Last week the bulls continued to run the market up slowly but surely. Let's see what is in store for us this week.
The S&P500 has finally moved passed the 1227 level. The bulls still hold control of this market, and will take a big drop for bears to have a chance. Bears will need to claim the 1220 and 1173 level before taking back control. Dip buying has been very strong so far and should continue as the market goes on. In weeks prior we have been lucky to see one or two days come down before the market goes back up.
The futures market shows the strong finish to last week, and shows the strong uptrend we are still in. Any pullback here should be a small one, and should be faced with more buying.
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