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JaysRage (90.49)

Macro-technical-analysts? How important is 1150?

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May 10, 2010 – Comments (3)

Before everything broke down and the whole world fell apart on Thursday, several analysts were talking about key points of support and resistance for the S&P, and the marker that was most mentioned is 1150.    I don't think it's a coincidence that the market found this key point of resistance/support today.    How important do you think it is that the market finishes above this marker in order for the rally to continue?   

Personally, I think it's very important.   

3 Comments – Post Your Own

#1) On May 10, 2010 at 3:51 PM, Momentum21 (96.33) wrote:

It is important to me as long as we close above it... : )

In all seriousness it did/does seem to be a number everyone was/is looking at...but that number went down pretty easily last week and we blew through it earlier today...so maybe we need a new number... 

 

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#2) On May 10, 2010 at 4:05 PM, portefeuille (99.56) wrote:

no, what is really important is my little green line (see this post), hehe ...

it is at a value corresponding to around 1168.73 at 05/10/10.

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#3) On May 11, 2010 at 3:12 PM, JaysRage (90.49) wrote:

It pretty much bounced off that line today.  

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