September 24, 2010

S&P 500 Before opening bell

  • Trading at 61.8% retrace level now. If breaks and trades above this level we can expect a positive opening for the indexes.
  • Getting resisted at this level will be negative for the bulls
CHART-I
  • S&P 500 futures with Fib levels.
  • Yesterday SPX met with resistance at 50% level. Right now index is trading at that level again.
  • More upsides are possible if the index takes out 50% and 61.8% levels convincingly.

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