S&P 500 is now up 18.75% since the 666 low several days ago. This is Quad Expiration week and I was calling for the 800 strike to get pinned before this Friday. The S&P 500 hit 800 today. Thanks Ben Bernanke! Also the daily 50 moving average(blue line) is at 800. The past few months every time the S&P went to the 50 ma(white cirles), it failed there. This should be resistance again........ look for a pullback in a day or two.Wednesday, March 18, 2009
S&P 500 at resistance
S&P 500 is now up 18.75% since the 666 low several days ago. This is Quad Expiration week and I was calling for the 800 strike to get pinned before this Friday. The S&P 500 hit 800 today. Thanks Ben Bernanke! Also the daily 50 moving average(blue line) is at 800. The past few months every time the S&P went to the 50 ma(white cirles), it failed there. This should be resistance again........ look for a pullback in a day or two.
