1320 = S&P 500 Floor
Written on March 3, 2008 – 12:43 pm | by admin
The 1320 mark continues to serve as a pseudo floor for the $SPX. Intraday today, it hit 1320.04 and bounced right back up off of it. Very frustrating. Should this floor continue to hold, we should probably see a rally back up to the 1385 level on the $SPX as that price point has been at the top of our recent trading channel. If we break below 1320, we should head much lower (possibly down to the January 1270 low).
Tags: $SPX