SP 500 hesitates at major resistance Focus: Regio
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S&P 500 hesitates at major resistance
Focus: Regional Banks, KRE, FSLR, SFUN, MYL, TRN, VRX
CINCINNATI (MarketWatch) — The S&P 500 Index continues to balk at significant resistance.
The specific level rests at its all-time high of 1,775, and the S&P’s response to this area should set the near-term technical tone. Based on today’s backdrop, a guarded near-term view remains warranted.
Before detailing the U.S. markets’ wider view, the S&P 500’s hourly chart highlights the past two weeks.
As illustrated, the S&P is back for another crack at all-time highs.
Significant resistance spans from 1,772 ,to the October peak of 1,775, and the response to this area should be a useful bull-bear gauge. The S&P closed Monday at 1,771.89. http://www.marketwatch.com/story/sp-500-hesit...beforebell
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