SP500 Resistance Level Reached Today

It looks like S&P500 hit it’s resistance level at 1112 today. It should not go much higher than 1112. I’m expecting the market to go down from here. The next support is at 1102 level and once S&P500 reaches this level, it should quickly go down to 1091. You need to closely watch S&P500 because if it ever reaches 1072 mark, then everyone needs to exit all long positions and stay on the sidelines or start entering short positions.

No comments: