Off the Charts

On Wednesday, the market gapped up but gained no traction intraday. Today stocks were able to shrug off the worse-than-expected jobless claims number to gain momentum to the upside. The S&P 500 closed the day up 1.38%.

The level to pay close attention to going forward is 1386-1391, as that was the prior breakdown level. Tomorrow we will receive the Michigan Sentiment number at 10 a.m. EDT, which will likely have an effect on short-term direction in the market....980 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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