S&P 500 INDEX, RTH traded incredibly and closed above the level of 1,300 for the first time in more than two years. After traded much lower on Friday, started with pace on Monday and kept its momentum to trade over yearly highs on Tuesday.
Strong Performance of the S&P 500 Index for the month of January and a record breaking start for the month of February put forward a view that stocks and potentially the Euro/US Dollar currency pair would keep on moving higher for the rest of the year.
A 61 year study (1950-2010) for the S&P 500 in US had put the result forward that the Index’s January Performance predicted the rest year performance (February-December) in 44 out of 61 years with the accuracy of 72% that means that a loss or gain of the Index in January may be assumed same for February to December.
http://galaxystocks.com/4839/opinion/sp-500-ended-above-key-psychological-level-of-1300-for-the-first-time-since-august-2008/
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