Off the Charts

The selling pressure continued in today's session as some key levels in the S&P are now breached. The Nasdaq was hit the hardest, closing down 1.20%, as technology stocks led the market lower. The index has now erased its gains for 2013. The S&P and Dow fell 0.67% and 0.56%, respectively.

 We often highlight key pivot levels in stocks and indices to respect. The most recent pivot level we have been focusing on is 1574 to 1576. The break and close below this key level in Monday's session gave us clues to lighten up on our long exposure and potentially trade with a short bias. The close below 1474 has added extra pressure in the S&P this week....594 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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