An advance over a level of 1228 in 500 of Standard & Poor's adds

An advance over a level of 1228 in 500 of Standard & Poor's adds to the bullish signals for the indicator of U.S. stocks that may indicate higher profits, according to BGC Partners.

The S & P 500 closed above that level on December 8 and joined on 10 December 1240.4, the highest since the week that followed the collapse of Lehman Brothers Holdings Inc. in September 2008. The move suggests that the trading range between April and November is over and investors should maintain bullish positions, said Jamie Coutts, a technical analyst based in Singapore at the Border Governors Conference.

On 7 December, the S & P 500 reversed 61.8 percent of his fall from October 2007 to March 2009, exceeding the level of Fibonacci to the demonstrations in April and November had stalled, according to Coutts . In the Fibonacci analysis, the difference between high and low points in the letters is divided into levels decline as 23.6 percent, 38.2 and 61.8 percent. The proportions were identified by 13th century mathematician Leonardo of Pisa and correspond to the proportions found in nature.

"The pattern is bullish," Coutts said in a telephone interview from Singapore today. "Liquidity is being pumped actively in these conditions and be maintained."

The S & P 500 is 21 percent lower this year on July 2 after the company reported higher-than-estimated earnings and Federal Reserve unveiled a plan for increased asset purchases. However, Coutts warned investors not in positions of making new bullish bets on gains in stocks.

"Almost all confidence indicators show bullish and readings mainly from an opposite perspective you want to be cautious," said Coutts. "The market continues to grow, but with fewer participants."