S&P halted its losing streaks on Thursday and launched a nice short-busting move on Friday
Looking at the chart below, it all appears routinely technical off support around 1320
There seems to be resistance around 1360
Question is what will index do after it runs out of squeezable shorts
1320-1360 appears to be a pivotal area. Above that, index has a positive posture, below that, a negative posture, inside that, a neutral chopfest
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago