S&P Futures Hold Support

01/27/2009 9:24 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

The March S&P futures appear to have formed a short-term low just below 800. The triangle formation still suggests that the action from the November lows is just an interruption in the downtrend, which is now at 927. Further resistance lies at 942, and a break below 797 would be negative.

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