Zacks' Voice of the People Highlights Opportunities With Standard & Poor's (S&P) 500

CHICAGO, Jan. 25, 2011 /PRNewswire/ -- Zacks highlights commentary from People and Picks Trader "MacktheKnife".

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The Trend Is Your Friend (Until the End)

January 25, 2011 - RELATED TICKERS: Standard & Poor's (S&P) 500 (NYSE: SPX),

The Standard & Poor's (S&P) 500 (NYSE: SPX) has moved from a closing level of 1,047.22 on Aug 26 to a closing level of 1,283.35 on Friday, with its steady progress impeded by neither a consolidation nor a correction along the way.

In association with this major move, the S&P 500's extreme readings ranged from the 1,039.70 reached intraday on Aug 27 to the 1,296.06 reached intraday last Tuesday. I believe there is an intermediate probability the latter value may represent the high-water mark for SPX this month. And I think there is a high probability the index may soon experience either a consolidation or a correction for the first time since last summer.

Assuming 1,296.06 proves to be a short-term top and drawing on the definitions of terms expressed in Lions, and Tigers, and Bears! Oh, My!, I thus would consider an S&P 500 level of 1,231.26 the signifier of a consolidation and an SPX level of 1,166.45 the signifier of a correction. All things considered, the former potential event appears more likely to occur than does the latter.

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Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3:1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros.  In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit From the Pros by going to http://at.zacks.com/?id=5958.

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SOURCE Zacks Investment Research, Inc.

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