The bottom line is that the low ends of the trading ranges have been set on comments by Fed officials that QE papering will continue. The upside is limited to risky levels not new highs as the extent of continued papering has been anticipated. Tapering is thus a market consideration and this limits the upside potential. Remember that stocks are trading under a ValuEngine valuation warning and that the weekly chart profiles could turn negative this week.
At the time of publication the author held no positions in any of the stocks mentioned.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.