Although the SPY has hit a little mid-day resistance in the mid-$127s, markets are otherwise off to a big breakout bang to start the new year, featuring very little intraday volatility and a nice bump in volume. Of course, you don’t need me to tell you that this first of month/ new year push places us firmly into short-term overbought territory.

Related posts:

  1. 03.02.10 – Gap Holds on Strong Internals
  2. Weekly Update
  3. 05.10.10 – Big Bang
  4. ETF Rewind – Week 52 (12/31/10) & Year-End
  5. 9.09.10 – SPY Near Miss Tag of 200-DSMA