A Blustery January Ahead For Stocks
By Eric Parnell:Investors may be battling a cold and chilly market wind to start off the New Year. Stocks managed to show some signs of life in the final few weeks of 2011. But the latest advance was already looking exhausted in the last few days of the year. The stock market as measured by the S&P 500 Index made its fifth attempt in recent months to try and break out above its 200-day moving average. And once again it appears that the stock market has failed at this resistance level and is set to turn back lower.
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Several destinations to the downside are likely for stocks in the coming weeks. One is at the 50-day moving average at 1237. The next is the recent upward sloping trend line at 1225. Then a variety of other support levels come into play between 1075 and 1200. How well stocksComplete Story »