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S&P At Key Resistance Level



July 22, 2010 – Comments (2)

Quickly approaching what I consider to be a key level on the S&P futures, which is 1092. So far it has tested this level, as of this post, and saw a small amount of selling come in right afterwards. We'll see what happens from here on out.

Here's the Chart Analysis

2 Comments – Post Your Own

#1) On July 22, 2010 at 10:38 AM, lorteungen (99.45) wrote:

Ok, now what? We buy?

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#2) On July 22, 2010 at 11:30 AM, davejh23 (< 20) wrote:

Based on indicators I'm watching, this morning's move pushed the S&P clearly into overbought territory.  Of course, these indicators don't mean much...continued earnings beats and any improved macro news could easily push stocks higher here.  The S&P is currently ~1.5% shy of the 200-day.  I'm waiting to see what happens here.

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