The market is enjoying a nice bounce in the first hour of trading. Of course, I am always skeptical of strong market opens.McDonald’s (MCD) raised its dividend by 50%, and GM got upgraded to Buy at Citigroup (C). Both of these seem to be aiding investor sentiment.Currently, the S&P 500 is approaching overhead resistance at its 50-day moving average. Let’s call it SPX 1482. I think this is a key level to watch. If the market can break above this level, it could spur some short-covering on a sque[...]
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[Source: The Money Blogs]
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