Thursday, January 5, 2012

S&P 500 ~ EOD Update ~ 5 January 2012

The SPX retested the previous resistance at 1265 today which is now support:

If you have a look at the chart it looks like the market formed an inverse H&S with a neckline at around 1265. So, if the SPX stays above this level we might go a lot higher. The target for this H&S is at around 1370.