Even with Fridays move higher, we are still in the same range that I reported about last week. Volume has also been below average. So I would rate this market range bound until we get a full look at earnings. Below is a chart of the S&P fund (SPY) with fibonacci retracement levels. Please click to enlarge.
Bottom Line: We increased exposure in portfolios during the middle of the week. I think the market still has some upward momentum to take it to (per chart above) the 138.00 area. Thank you for reading.
