S&P Weekly and Daily range.
1255 provided resistance on Thursday, but lacked any sustained selling, as the market remains consolidating around the upper levels of 1249-1252, waiting for the DOW to reach 11593
As per Weekly report, my view is that the market look for a reversal pattern back towards the 3-week lows, and we can see those 3-week lows have jumped up to 1221-1224 from next week.
If the market is going to continue higher in the first Quarter of 2011, ideally I would like to see those lows reached first and provide support.
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