To Buy Or Not To Buy? (SPX, DJIA, AAPL)

Traders have been watching the 1,130 to 1,135 level on the S&P 500 (

) for weeks now to see if the market could punch through that critical resistance. Well, today the S&P is up 12 points, or 1.08%, to 1,137. The Dow (

) is higher by 108 points to 10,716. With the market now breaking out, do you buy here to profit from momentum and a possible short squeeze? Or, do you sell into strength as economic fundamentals remain weak and the market could yet again test 1,040 on the downside? I personally would sell into strength because equities have advanced so sharply in recent weeks. The S&P has advanced over 9% since September with Apple

leading the market higher. The way market sentiment can change on a dime, I believe it's better to cash in and wait than to chase and be caught at the top.