S&P Update

By January 21, 2013 Market Analysis No Comments

In my last post I had mentioned 1472-1474 as the resistance. S&P on Friday, January 11th closed at 1472.75 which is right at resistance point. So, now it is important that S&P breaks 1474 this week and heads towards next level which is 1483-1485. This can happen by Wednesday January 16th. After hitting 1483-1485 S&P could possibly pullback and test 1465, with slight chance of 1450. Then S&P rise again and meet 1483-1485, take it out and heads towards 1490-1500. This process can happen by end of January.

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