It will be interesting to watch tomorrow to see how it reacts to that potentially strong resistance. Anytime when multiple support or resistance levels intersect, they become stronger. We'll see if the market agrees.
SPX Daily Chart:
Tuesday, November 13, 2007
SPX Rally to Resistance
The surprise rally today marched back up to the 100% fib retracement on the 3 day daily chart where it intersected with the descending trendline that starts on October 31st.
It will be interesting to watch tomorrow to see how it reacts to that potentially strong resistance. Anytime when multiple support or resistance levels intersect, they become stronger. We'll see if the market agrees.
SPX Daily Chart:
It will be interesting to watch tomorrow to see how it reacts to that potentially strong resistance. Anytime when multiple support or resistance levels intersect, they become stronger. We'll see if the market agrees.
SPX Daily Chart:
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