S&P 500, December 17, 2010 - BMO

This OpEx week so far has been muted.

Bulls seem not have a reason to buy more with gusto, and bears seem like they are scared of being bears.

From weekly price point of view, index has a positive posture. There are some momentum divergences, but weekly chart looks positive still with ample support from breakout levels and a host of MAs



From a cyclicality and breadth point of view, S&P looks a bit stretched.




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