Tuesday, March 29, 2011

S&P 500 ~ Intraday Update 1 ~ 29 March 2011

Support and resistance areas are working very well these days, I hope this continues ; )

The SPX hit the support area between 1305 and 1308 this morning and has rallied from there. The situation today looks very simliar to the one of last week:

Thus, a break of 1320 seems to be very likely. Once above 1320 1330 should be the next short term objective.