S&P 500 Stabilizing?

10/20/2008 9:24 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

The S&P 500 held above the recent lows at 850 and closed higher for the week. The short term weekly momentum is still declining but is at oversold levels. A higher close this week could turn it higher. Initial resistance at 1050 with more important above 1150.

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