Back in the first week of January I was looking for the SP500 to peak out around the end of Feb/early March around 1550. The Jobs report on 1st March and the sequestration due to kick in on the same day could possibly be the trigger to change the current rally from 1398 on 31st Dec 2012. Upside resistance in the 1550-1575 area and political risks ahead, mean the market is going to struggle to go much higher from here. I will start to take profits on any Buying surge around 1550 with a plan to reinvest later in the year on any pull back to 1350.
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