The S&P has hit its resistance line for the 3rd time in the past 5 months. The S&P closed slightly above the resistance line on Monday, and then fell below it on Tuesday. This means the S&P is now testing a critical 5 month resistance level. The S&P 500 needs to move past this resistance level in order to keep the market moving higher. A downside failure would result in a pull back. Stay safe, and trade smartly!
Wednesday, April 15, 2009
Resistance
The S&P has hit its resistance line for the 3rd time in the past 5 months. The S&P closed slightly above the resistance line on Monday, and then fell below it on Tuesday. This means the S&P is now testing a critical 5 month resistance level. The S&P 500 needs to move past this resistance level in order to keep the market moving higher. A downside failure would result in a pull back. Stay safe, and trade smartly!
Tuesday, April 7, 2009
Are Markets Leading Indicators?
Not according to this chart - how do you explain the Dow (and S&P 500 and Nasdaq) lagging behind the peak in Housing and Banking?
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