S&P 500 - April 17, 2011

Sometimes a very simple technical study can get a technician some valuable technical information.


Last weekend I showed S&P charts overlayed with some support and resistance curves and identifies 1280-1300 and a support area

What could have been simpler than that?


As it happened during the market week. 1300 was tested and held.

This is an updated chart using daily prices





Support remains at 1280-1300


There is resistance around 1330


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