S&P Targeting 1120-1130?

11/09/2009 9:36 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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The reversal in stocks last week was positive and stocks are set to open higher on Monday. The McClellan Oscillator has turned up from oversold levels and has broken its initial downtrend. Positive A/D numbers on Monday should signal a move back to +200. Converging Fibonacci targets for the S&P are now in the 1120-1130 area.

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