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Gunfight At The S&P Corral



September 15, 2010 – Comments (0) | RELATED TICKERS: SPY

After spending much of the day trading sideways, the bulls finally got the motivation to crank it in high gear and push the S&P up near the 1130 mark. So far they have failed to break through it, but what they have done is position themselves for a positive jobs report tomorrow that would inevitably push them through this strategic price level. Should they miss tomorrow, then watch-out, because we could see mass profit-taking ensue.

Here's the Chart Showing the S&P up against Resistance.

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