Uptrend in Stocks Continues, Chart

The S & P 500 pulled back to its 40 day average (red line), and is now moving back up.

The market appears to be stuck here with resistance around 1380.

The market found good support around 1340 so far. This market really needs tests to the downside to establish support.

Most investor remain skeptical. Preferring to look for reasons while the market should be going down instead of recognizing that the uptrend in intact.

@AllAmerInvest, The Trend of the Market Remains UP, Chart

The uptrend in the S & P 500 continues.

All American Investor

One thing you should notice when you look at the SP 500 chart below is the slope of the 40 day moving average (green line). The slope is trending up. It is the slope that is most important, not the absolute value of the moving average.

The market should now be able to take downside attacks. Expect the market to find good support if the market comes back to, or near the 40 day moving average. This is where you want to consider buying the market.

Obviously, the market is still vulnerable to event risk from Europe.

@AllAmerInvest Stock Market Trend, Chart, Video Is The Bull Market Over for Stocks?, Corporate Profits Slow

Stock market trend continues slightly positive as the S&P 500 approaches the critical 1290 area. 

Still watching the slope of the 40 and 200 day averages closely. Any sharp upturn would indicate that the sideways consolidation is over, and that, the market is ready to move sharply higher. A close below the 40 day would be a red flag.