October 18, 2010

  • S&P 500 Hour chart shown with a range of 1162 - 1180
  • Price is approaching the top of the range. 1180 is a good resistance level.
  • More upsides are possible only if 1180 level. If price manages to breakout next resistance level is at 1190 area.


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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore