Monday, May 11, 2015

$SPX Gets that Yogi Berra Feeling

It's "deja vu all over again" -- a famous Yogi Berra quote -- for the S&P 500, as it tests the top of the range that has held it in check since February. If it can't break out today, we're probably going back down to the bottom of the yellow zone, and maybe support at the 100-day moving average. 

However, I will point out that earnings are actually showing progress. Fears of an earnings recession are fading. So maybe the S&P 500 can break out.

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(Updated chart)

Stay tuned.

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