Tuesday, March 10, 2009

SPX: Bounce Underway?

The SPX took it's cue from the banks and put in a nice rally today that held through the close.

First upside target is 745 and there is not much resistance to keep it from getting there.

After 745 the goal for SPX would be to hold above 750 and attempt to retest 800. The 750 area will be key to watch, short term bullish above it and bearish if it can't hold it.

SPX Daily Chart:

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