S&P 500 8-26-2010

August 26th, 2010 by admin Leave a reply »

The S&P futures finally put it in gear yesterday afternoon, and broke above the resistance block of 1053.25-1054
and put in a high at 1057.75. Today we will use basically that same block of prices, but as support, and I expect
that it will take some work to get through there and remain under there at least initially. If “claims” is real bad, that
could also possibly do it, like last weeks poor number. That leaves only upside, but we are in sellstalk still and
need to get above 1065.75 for clear air, and somewhere around 1070.00 does sellstalk come off. The daily
resistance line at 1075.50 will be stern resistance.

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