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!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment