Before the Open (Jan 11)

Good morning. Happy Monday. Hope you had a nice weekend.
The Asian/Pacific markets closed mostly up…Europe is currently mostly up…futures here in the States indicate a gap up open for the cash market. This comes off a 5-day winning streak for the S&P and a 12-out-of-14 up days going back to December. Here’s the S&P daily. The current character has repeated itself going back to last summer. We have many winning streaks of 4-6 days and several blocks where the market rallied almost uninterrupted for 2+ weeks. Sooner or later the market will need a break – likely today or tomorrow.

As I’ve said many times, you gotta either be short term or longer term oriented – don’t get caught in the middle or you’re likely to be stopped out at exactly the wrong time. Given the current winning streak, you are either scaling out of positions and being more selective with new entries or you’ve committed to holding through a pullback. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports and Economic Numbers