Friday, March 8, 2013

Does Prior Resistance From 2007 Matter Anymore?

$SPX is now within a few points of its prior tops in 2000 and 2007. Will this matter?

Probably. Look at how RUT, COMPQ and SPXEW reacted and then look at the charts for SPX and INDU.

In any case, the next few weeks will provide the answer.