If the S&P 500 (SPX) should start breaking out to the upside, watch the channel resistance which is lined up now with the May 2001 high of 1315.93. Lots of talk about SPX 1309, but I think 1315.93 is even more critical, as we saw with the pullback at 1286, June 2001 high. Another reason I like SPX 1315.93? It would line up with ES (e-mini futures) 1323.50, monthly R1.
This entry was posted
on Thursday, April 06, 2006 at 6:53 PM.
