Monday, December 10, 2007

SPX - Strong Price Action

The SPX has shown some incredible resilience over the last few weeks and is currently holding those levels. The SPX is about to bump into another descending trendline and has made this move with the price moving up at a 64% angle (very straight up) -- this angle is likely unsustainable so I'll be watching for a break of the Green Trendline for the signal of a possible pull back.

SPX Daily Chart:

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