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Will We Break 950 Resistance?

YouTube – the answer to life, universe and everything.

Well, our rally continues and we are fast approaching the upper resistance level of 950. The question we should all be asking is, will we break through it and start the next leg up? As we crossed 942 today, it reminded me or one of my favorite books by Douglas Adams. Check out the video (or better yet, go borrow the book from the library) if you’ve ever wondered what the ultimate answer is to life, the universe, and everything (maybe even whether the next leg up lays ahead).

sp-with-fib

You can see on our graph that the 950 resistance is in sight. We have been nibbling away at some undervalued stocks for clients with cash, but I am hesitant to commit large sums of money until we move out of the trading range. Maybe we will have an answer soon and can add to some of the financials and techs we’ve started accumulating.

Enjoy the oddly British humor of Douglas Adams as well as the rally. More will become clear in time – maybe even sooner rather than later.

Mark