1,091 Proves Strong Once Again

On a closing basis, the S&P 500 stopped going down right at the 1,091 level, which has acted as key support four times now since last November.  Now that the index has found support in the short-term, traders will focus on the 50-day moving average as the next level of resistance, which is about 13 points above the index's current level.

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Comments

[Monica]

Looks like 1040 is next!