Tuesday, July 31, 2012

S&P 500 ~ EOD Update ~ 31 July 2012

The market reached the 1390 resistance area late Friday/early Monday. Since then the SPX has been declining:

If we zoom in, we can see that the correction thus far looks rather corrective than motive. Thus, if the SPX can breach the upper trendline, we should see another rally into the 1390 area.