Wednesday, April 29, 2009

S&P Update



It's about 12:00 PM right now and the S&P's are breaking out above the channel I posted about last week. A close above 880 would be bullish with a test of the 200 day moving average a likely upside target. Let's first see how the market closes today. I think 880 is a key level to watch for.

2 comments:

Anonymous said...

Lets's see: we were above 880 intraday yesterday and today (888!) but closed below. Does it count?
I hope not!

Kevin said...

No...880 is a difficult number for the market to close above. If the S&P (SPX) does close above 880, we'll probably see a move up to the 200 day moving average.

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