However, by the end of the month after clean tag of the S&P 500's 200-day ema, a significant snap back rally ensued that has pushed well into mid-March. This move left the S&P 500, Dow Jones Industrials and NASDAQ 100 cash indices higher across the board by +2.85%, +2.56% and +4.46%, respectively. With ramifications of the exchange of private for public debt put on the side for now, equities continue to string together a record ratio of up days. Will this year-old bull market ever turn "gray" -- or was the pause that refreshes just the "formula" we needed to continue the "march" towards SPX 1,200?
Volatility: Low (VIX 19-27)
Direction: Mixed to Positive
The Style-Box was calculated using the following PowerShares™ ETFs: Small-Growth (PWT), Small-Value (PWY), Mid-Growth (PWJ), Mid-Value (PWP), Large-Growth (PWB), and Large-Value (PWV). The Sector-Ribbon was calculated using the following Select Sector SPDR™ ETFs: Materials (XLB), Industrials (XLI), Energy (XLE), Staples (XLP), Discretionary (XLY), Financials (XLF), Technology (XLK), and Healthcare (XLV). The Standard & Poors 500, Dow Jones Industrial Average and NASDAQ 100 may be traded through ETF proxies, including the SPY or IVV, DIA and QQQQ, respectively.