Off the Charts
It was a choppy day in the market today as the S&P 500 kicked off the fourth quarter. A strong ISM number at 10 a.m. triggered strong gains, but the market pared those gains the rest of the day. The S&P closed toward the lows of the day but still in positive territory after the gap up, while the Nasdaq closed the day negative.
Today the S&P saw a push through failure as it pushed above 1447-1450 but failed at resistance of 1460. In healthy markets, stocks push through action areas and hold, but in faulty markets there are often pushes through failures. If the S&P continues to hold below 1460, the greater the chances that last week's pivot low of 1430 does not hold going forward....834 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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