Wednesday, February 22, 2012

S&P 500 ~ EOD Update ~ 22 February 2012

I'm back! ; )

The SPX is already up 100 handles this year and near last year's high. As I've been saying for the last two weeks or so we could see a correction very soon (into early-mid March). This doesn't mean though that there has to be one.

As you can see in the chart below, there aren't any signs of weakness yet. So there's no reason to be short already, rather be long and enjoy the ride up as long as it lasts. ; )

Resistance is at 1370ish, support at 1355 and 1340.