It has been 14 days since I have last talked about the S&P 500. With the new high since the March 2009 rally we still have a firm uptrend, that said we are facing resistance just above. At 1,355 wave C will be 61.8% of wave A. Will it be a top? Maybe all the markers for a possible top is in place, but we need a break below 1,328 and more importantly 1,295 to have indications of a top.Wednesday, April 27, 2011
S&P 500 - Resistance just above
It has been 14 days since I have last talked about the S&P 500. With the new high since the March 2009 rally we still have a firm uptrend, that said we are facing resistance just above. At 1,355 wave C will be 61.8% of wave A. Will it be a top? Maybe all the markers for a possible top is in place, but we need a break below 1,328 and more importantly 1,295 to have indications of a top.
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