The S&P 500 futures have had the sellstalk shut off today, which rolls sentiment to bullish and makes as our initial
target the daily resistance line which today resides at 1071.75, and this level should act as a “heavy” line and the
index should struggle to stay above there. Thus far this morning it has tested that area by putting in a 1072.75
high, and then falling back below there. This morning now going forward, resistance will begin at 1066.50, and on
the downside support begins at 1063.25. Note, if we can get back down around the 1053.00 support level,
sellstalk should come back on if under that price level, and we once again would resume a bearish tone below
there.
S&P 500 8-30-2010
August 30th, 2010 by admin Leave a reply »
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