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Thursday, December 26, 2013

Daily update 12/26

The famed Santa rally continues.  Here is the daily SPX chart.

I don't see anything better for a bull/bear line then 1808 at the moment.  The move is pretty straight up and breadth and new highs are strong.  There should be little desire to sell at this time of year.  Why sell now when waiting until Jan. prolongs the tax bill for a year.  There seems to be enough rally chasers to push prices higher.  As long as they continue to show up we could do the slow grind higher into year end.


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