SP500 Reached Major Support For The Second Time!

Today, we saw S&P 500 reaching 1040 and then immediately went on a rally.  It closed the day at 1074.  Now that S&P 500 reached 1040 level twice in 2010, there is a greater chance of breaking
this major support level if it goes near 1040 again.  Keep in mind that the last time it reached 1040 level, S&P 500 made a very strong rally into low 1200s within next 2 months.  How will S&P 500 behave this time?  Will we see another strong rally or will it go in the opposite direction?  Rest of this week will be critical in determining the direction of the stock market.

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