I still like the uptrend of the overall market here. The S&P 500 is close to a breakout higher (above the resistance zone) that I believe will take it to the 140 level in the coming weeks. As long as the overall market is trending higher we can still hold onto stocks for the near to intermediate term time frame. Below is a chart of the S&P 500 fund (SPY).
Bottom Line: There is still the issue of a Greece default down the road that may have an effect on Portugal and other countries within the EU. But for now, markets are willing to put those worries aside and focus on corporate earnings and a potential economic recovery in the US. We remain about 90% invested. Thank you for stopping by.
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