Looking for the S&P above 1844 today. But also looking for advancers and decliners to either continue to confirm the advance or diverge. Yesterday a negative divergence began. Today will probably continue, but a close above 1844 could be viewed as bullish.
In that my trading computer is in the shop until later this morning, I will likely wait until the afternoon to make any moves. But I will be watching how it acts around 1844. Holding above it might cause me to do nothing.
The FT is also getting into the Rising Rates For The Right Reasons narrative, reporting "US interest rate benchmark moves above 3% as economy strengthens."
Marketwatch: "Why mortgage rates won’t derail 2014 housing market."
Marketwatch: "10 stocks for the U.S. economy’s revival in 2014."
It's pretty merry out there. End of month, end of quarter, and end of year markup feels in full force. Enjoy it while it lasts.