Thursday
Mar112010
S&P 500 Breakout?
Thursday, March 11, 2010 at 07:07PM The S&P 500 made a new bull market closing high today. Sure, it was by 0.01 points (1,150.24 vs. 1,150.23), but it's still a new high! We'll obviously need to see some follow-through over the next couple of days to confirm the breakout, and if we get it, then the next level of significant resistance is right around 1,200. The pre-Lehman S&P 500 level that many are looking for is 1,250, which is a gain of 8.70% from here.
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Reader Comments (8)
No. Next taget is 1050
Rising market on declining volume - FAIL
it closed at 149.99 according to yahoo fiance & nyse. so its not a closing high.
The melt up continues...thin volume and major players are forced to hold their noses and buy to chase the S&P. This type of market will crush the majority. THink like a contrarian.
They're so many contrarians out there I think the minority are in the thin volume that's going up. Everybody says this market can't keep going up but that's what inflation is all about.
on fundemtals, the market could go up from here but the reality on the ground is the same, companies are cutting the cost but cash & profit is diminshing and growth is not there and will be not there for along time. soon we will see the fundemantls will cick in the technicals
starting from march, you had to employ a contrarian stance to most contrarian investors. then you would make lots of good trades on thin volume. it appears that this stance will continue to bring profits. as long as we have 80% of comments saying that the market will crash, keep your longs open.
Who has a penny stock subscription for Sansberry & assoc.?