The S&P ran into resistance last week at the Monthly R2 pivot(green line marked R2). A breakout above that will take us to the yearly r1 pivot at 1275. I have to stay bullish as long as we stay above the daily 8dma at 1230. Maybe R2 holds and we get a little pullback this week.Sunday, December 19, 2010
at Monthly R2
The S&P ran into resistance last week at the Monthly R2 pivot(green line marked R2). A breakout above that will take us to the yearly r1 pivot at 1275. I have to stay bullish as long as we stay above the daily 8dma at 1230. Maybe R2 holds and we get a little pullback this week.
