Wednesday, December 1, 2010

S&P 500 ~ Pre-Market Warm-Up 1 December 2010

The last few days were quite roller coastish - nevertheless and the SPX has been trading in a small range between 1173 and 1200 for the last two weeks.

As mentioned already a few times I'm waiting for a break out of this channel: a break below 1173 and the end of year rally is in danger and we may see 1130ish until Xmas - a break above 1200 though may very well be the start of the eoy-rally to 1250/1290:

Break out???