Wednesday, December 1, 2010

Clear Breakout over S&P 1200 as Lunch Spike Kicks in

After surging to 1200-1201 right from the start of the day, the S&P 500 sat in a tight range for 2 hours, but just experienced a 4 point vertical move (literally) on the chart.  It looks as if 1200 will now be the new floor as the range we've been stuck in for a few weeks appears to be resolved to the upside.  Now I guess we see if we make a move to yearly highs Friday on the 'surprise' better than expected employment data.


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