Monday, April 4, 2011

S&P500 Daily chart with Trendlines

Previously, we looked at this same picture, commenting on the strength of the horizontal line just below 1300.  The bulls powered through that resistance and continued to climb.  So much so that as of today, our second consecutive daily price action took us in close proximity to the next potential overhead resistance.  Is a pullback in the cards, or will the bull strength power through the resistance to even higher highs?  Watching and Learning.

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