Stocks Break Out Of Range

Stocks surged today breaking out of its 4 week trading range. If you recall I was very clear about watching the 880 level before doing any shorting. As you can see, the S&P never took out that 880 level so there is no reason to be short this market. Waiting for confirmation is critical to my trading and the above chart is a good example of why I let the market prove me right before I get involved.