S&P 500 Technical Analysis for 12/30/09

The SPY gave back some of the gains of the prior 5 day rally but it remains comfortably above the prior important resistance at 111.80-112.00 and as long as it holds above this level the breakout should be trusted, even with light volume.  The nearer term support remains at the prior breakout attempt high made … Read More

S&P 500 Technical Analysis for 12/30/09

The SPY gave back some of the gains of the prior 5 day rally but it remains comfortably above the prior important resistance at 111.80-112.00 and as long as it holds above this level the breakout should be trusted, even with light volume.  The nearer term support remains at the prior breakout attempt high made … Read More