Don't Get in the Way of This Market - S&P Technicals with TradersAudio's Ben Lichtenstein

Choice quotes from our weekly discussion with Ben Lichtenstein, president of TradersAudio.com. "Everybody is making such a big deal about Friday. I don't really think it was much at all. For the most part, the VIX has been coming off and it's been hanging around 20 for the last month or so." "We're hearing of a deal in Greece, but we're also watching them burn buildings down in protest. So no, I don't think it really provides anything to trade off of, so to say." "For the most part, I think what you have to be looking at is the areas of value that we've been establishing clearly higher. Again, we are going to have pull-backs, but for the most part, look at this market off of that 1225 level. Look at this market up above 1300. It's basically been straight up. Anyone who has gotten in the way of that -- I feel sorry for them." "[Sentiment] feels the same [as a week ago]. People are watching this low interest rate environment, expecting to see status quo, if you will." "The one thing that is difficult is we haven't seen these levels in so long that it's really tough to base anything off of. We just made our way through that July 2011 high, and for the most part, the sky is the limit at this point, within reason." "Again, we are establishing value areas to the upside. Until we balance out at the upper extreme here -- there's a possibility of a V-top, but those are fairly rare -- we'll probably see some sort of a balance form." Find us on Twitter @BenzingaRadio