Algokid

SP 500 hitting Resistance/ U.S Dollar breaking resistance

SP:SPX   The S&P 500 Index
761 1 7
The market is up about 10 % this quarter, which is a nice start for 2013. However, it's at significant resistance as you can see on the log chart (blue). At the same time the dollar is quietly rising ,while gold             is testing support. With all the trouble in Europe, are the investors looking at the U.S. dollars as the best "investment" for near term ? Can we expect some profit taking in the next quarter ? or is it different the time ? well, only time will tell. Until then ,good trading to you all

Algo.
UPDATE : the S &P made a new all time high and is slightly over it's resistance. Gold and Silver are in a downfall, and the dollar remains flat. Looking at other indicators , such as the S & P / Cash ratio and the % of S&P 100 above 200 ma , it's seems like the market will continue to dismiss any negative news and continue to buy. Both this indicators have increase over the past week, with the SP 100 having 87 % of it's stocks above their 200 ma . So sticking with the trend for now, for how long however ? only time will tell.
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