A close above $SPX 1680 would be bullish

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Posted on September 10, 2013 - 12:14pm

ryanbrennan's blog

By Lawrence G. McMillan

Stocks gapped higher on the open yesterday and just kept going higher all day. $SPX has now closed above its declining 20-day moving average for the first since the market topped out just over a month ago. Oversold rallies – which this still may proved to be (although it seemed stronger than that on Monday) – usually die out at about this level: just beyond the declining 20-day moving average. Chart-wise, $SPX is now at the 1670 resistance area. A close above the more major resistance at 1680 would revert its chart to a bullish state...

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ryanbrennan's blog

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