Time for Another Pause

The FTSE has continued to creep up after the initial surge on the fiscal cliff half deal, but looks like it is running out of steam. The Dow is in overbought territory and the FTSE is almost there with its momentum indicator (14 day relative strength) nearly at 80, so I am expecting a small dip below the 20 day moving average or, perhaps, a sideways move until the mavg catches up.