Michael Gouvalaris | Jan 11, 2014 01:51PM ET
We have talked at length about the potential technical pitfalls ahead, however with both major averages trading above their respective 50 day and 200 day moving averages and the volatility index still trading in the low teens (which we will see later), there is not a whole lot to get bearish about for the time being.
So even though we remain under resistance levels there is not a lot of signs pointing to any sort of imminent and important market top at the moment.
It's still far to early to read anything into this, but this is so far a much different start to the year compared to what we saw last year.
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