This Week’s Close Important

01/26/2009 11:38 am EST


Thomas Aspray

, Professional Trader & Analyst


The S&P 500’s weekly momentum, which turned up in November, has now started to roll over. This is a concern, but a positive close this week would help stabilize the market. Technically, three consecutive higher weekly closes are needed to support the case that a stronger bottom formed at the November lows.

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