January 2013 Monthly Review

S&P 500 Monthly Review

The S&P 500 monthly is showing a close above resistance near 1490. This is very bullish on a monthly basis. If support holds, this may be a sign that highs near 1576 may be retested. In the event that highs are rejected with a selloff below 1390, 1420 will be retested.

My monthly outlook is bullish.