S&P Weekly Analysis Positive

10/12/2009 9:42 am EST


Thomas Aspray

, Professional Trader & Analyst

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The S&P closed strong last week and the RSI, after dropping below its rising WMA for one week, has turned higher. The weekly studies, like the NYSE A/D line, have confirmed the new highs, indicating the intermediate trend is still positive with the 50% resistance at 1120. The RSI identified the lows in late March.

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