Hi traders, the market is at a new high! To understand the market, one must examine what happened last Friday: IBM and AXP released disappointing reports, the Senate failed to reach the budget agreement, bond yields peaked and the dollar fell to a new low, however, the S&P 500 rose on Friday, gaining 0.9% for the week. Why? Momentum! Momentum is one of the strongest market forces. It creates fear. Investors who fear to miss the party. It can overcome all negative news and run over all the bears. Momentum is your best friend!
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