S&P at Critical Juncture

06/09/2009 9:44 am EST


Thomas Aspray

, Professional Trader & Analyst

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The daily chart of the S&P 500 shows that it has closed above the 200-day MA for the past six days. The longer-term resistance line in the 949-951 area has so far limited the upside. The Summation Index has not yet confirmed the new highs and a drop below last week's lows will indicate a correction is underway.

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