Last week, the bellwether SP 500 continued its rebound from a successful test of underlying support at 1,730 at the beginning of the month. The U.S. broad market index finished Friday's session at 1,839, 2.3% higher for the week and just off the all-time high at 1,851.
Year to date, however, the SP 500, along with the blue-chip Dow 30 and small-cap Russell 2000, are in negative territory. The tech-laden Nasdaq is the only major U.S. index in positive territory in 2014, up 1.6%, and it must continue to lead on the upside for the broad market advance to continue. Continue reading "Indicators Show Market at a Near-Term Decision Point"
