November 4, 2010

S&P 500 Support and resistance levels

  • Bulls should have stayed above 1196 for crossing 1200 which has not happened.
  • Below 1187 bears will become stronger
  • If price stays between 1177  and 1187 it may not be too bad for the bulls They can try for a fight back before end of day.
  • If price breaks 1177 that will be negative news for the bulls and may lead to a complete reversal of the trend.

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