S&P Overcomes Resistance

01/05/2009 9:53 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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The positive divergence in the McClellan Summation Index at the November lows was confirmed in early December and it continues to rise sharply. A test of the 38% resistance at 1059 would not be surprising if the 1000 level is overcome.  Major 50% retracement resistance is at 1150.

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