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[Previous entry: "SPF--Another great chart from ProfitPoint for +$5.91"] [Main Index] [Next entry: "Keep an eye on USPI"]
12/19/2003 Archived Entry: "S&P Weekly resistance."
Click for S&P weekly chart.
An impressive show by the bulls brings the S&P well into the weekly resistance levels. There are a few resistance zones 1092-1100. the daily chart has some levels at 1084, 1095, then 1108. Recent action negates that big ugly red bar on Dec 15th. The 1100 area is also a big round number, I would not be surprised to see some selling near there or a little above. Trends are up, so long trades are more attractive as long as the 30-minute trend confirms. Short trades will require some confirming indication, do not pick tops (wait for confirmation)!
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