Friday, December 4, 2009

Technical outlook


S&P is every day making new 14 monh highs for the last 3 days. But we havent managed to close at those levels yet. Well I think, after the beautiful unemployment data, today will be the day.

We had a big upspike, and things are looking good for the bulls this time. We will see.

As you can see from the hourly chart we are breaking out from the channel. This should take S&P to 1133 first and then BIG RESISTANCE at 1211.

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