S&P500: Bulls VS Bear...
The bearish market was not able to push the S&P500 to settle below 1920.4. The benchmark was trading around 1950 before Speaker M. Boehner's announces his resignation from Congress, which has sent the benchmark back to 1920.4.
Opening with a bearish gap would suggest that the bearish market will continues, especially if the benchmark cuts through1920.4, which will send it south towards 1897, with 1911 as primary objective.
Opening with a bullish gap will send the benchmark back to 1961.7 as a primary objective, and 1946.47 as an objective.
The daily Pivot Point is around 1935.24. The daily support levels are around 1917.59 and 1903.85. The daily resistance levels are around 1948.98 and 1966.63.
Opening with a bearish gap would suggest that the bearish market will continues, especially if the benchmark cuts through1920.4, which will send it south towards 1897, with 1911 as primary objective.
Opening with a bullish gap will send the benchmark back to 1961.7 as a primary objective, and 1946.47 as an objective.
The daily Pivot Point is around 1935.24. The daily support levels are around 1917.59 and 1903.85. The daily resistance levels are around 1948.98 and 1966.63.
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