S&P Update

By January 6, 2013 Market Analysis No Comments

In my December 30th post I had mentioned that futures have bottomed and looks like market will rebound upward. That is exactly happened later. In our members portfolio we did not have any single bearish trade and we nailed lot of bullish trades (Calls) as winners.

On Friday, January 4th, S&P closed at 1466.47 and facing resistance at 1470-1474 level. Once this resistance is crossed then expect S&P to hit 1483-1485 level. This can happen by January 15th-16th. After hitting 1483-1485 S&P is expected to pullback (not correction) and then run towards 1500.

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