What's Next for the S&P 500?
A quick glance at the S&P 500 shows it is at the top of the range where it's been trapped since early August. Now that it's nearing resistance at 1225, the next step is to fall back into the range and slide toward support near 1071 -- at least that's what conventional wisdom says.
But conventional wisdom is often incorrect. The world in which support and resistance never break exists only in textbooks. (How much easier would our jobs as traders be if those levels always held sway?) Let's see if we can objectively determine the next move for the S&P 500....503 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.