LONG TERM TREND: Just take a look at the attached chart of the weekly S&P. The first thing you'll notice is that last week was a very strong week compared to the previous week. However, take a look at where the market closed. On Thursday the market ran right up against the 40 week moving average. On Friday the market closed down from that level.
SUGGESTION FOR 401-K: I'm not dipping my toes in the water yet. Once again the 40 week moving average acts as a formidable resistance point. Until we get some bullish price action above that area we really don't have a good idea of which direction the market may go. Have a great weekend and any questions or comments are welcome!
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