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S&P 500 is A Stones Throw Away From 1300 Resistance

Thursday, 23. February 2006

As the S&P 500 futures approaches multi-year highs, 1300 price level is holding as resistance. 1300 is partly a focal point because of the number itself which will have to be taken out to get range expansion. Indicators are in buy and we will look to get long at the 1292 price level after support firms up a bit. Entry will be done with only a partial position as stop will require a fairly deep hold to the 1287 price level.


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