Lawrence G. McMillan

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Nov. 13, 2013, 8:34 p.m. EST

In focus: Bulls gear up

Plus: PAY, STI, and expiration Follow-Up recommendations

By Lawrence G. McMillan

Despite overbought conditions and some sell signals, the bulls have been undeterred and have now taken the Standard & Poors 500 index to new all-time highs at today’s close.

The Dow and S&P 100 /zigman2/quotes/210600159/delayed OEX -0.12%  also made new all-time highs. Even QQQ (which is the NASDAQ 100 = /zigman2/quotes/210598364/realtime NDX +0.56%   is at new relative highs. Only the broader-based small cap indices, such as the Russell 2000 /zigman2/quotes/210598147/delayed RUT -0.42%  are lagging behind.

Now that the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.21%  has made new highs, the bulls are probably going to try to press the point. A quick move to 1790 or so would not be surprising. There is support in the entire 1,750 -1,770 area, where SPX “worked” for the past couple of weeks. Below that, there is strong support at 1,730.

/zigman2/quotes/210600159/delayed
US : S&P US
1,660.52
-1.97 -0.12%
Volume: 736.94M
Nov. 25, 2020 1:50p
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/zigman2/quotes/210598364/realtime
US : U.S.: Nasdaq
12,147.87
+68.07 +0.56%
Volume: 395,344
Nov. 25, 2020 3:00p
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/zigman2/quotes/210598147/delayed
US : US Composite
1,845.67
-7.86 -0.42%
Volume: 1.14M
Nov. 25, 2020 2:45p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,627.92
-7.49 -0.21%
Volume: 1.61B
Nov. 25, 2020 3:00p
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