Tuesday, August 24, 2010

Bored yet?

There's still nothing interesting to report about the S&P 500 Index, which remains stuck in the channel between 1010 and 1130.

The recent second flirtation with the 1130 level makes that upper resistance line all the more significant - if the S&P 500 crosses above that threshold then a continuing rally is likely. On the other hand, a drop below the 1055 level would leave 1010 as the last line of defense from a free-fall.

1 comment:

Cathy said...

ZZZZZZZZ . . . ;0)


In these times - bored ain't all bad.