An Unreal Fixation
Have you ever seen such an obsession over a certain level on the S&P 500? Oh, I suppose we have before. I remember, in August 2010, when 1040 was all anyone could talk about. But the fuss that has been made over this level is unreal to me.
Just in case you've been hiding in a cave for the last few months, the level is couched between 1260 and 1270. You can probably recite the reasons on your own, but let's list them anyway. The 200-day moving average, at 1259, lives up there. So do the recent highs -- all lower highs, I might add. The resistance, or downtrend line, is situated here, as is last year's closing price on Dec. 31. Further, of course, the now-much-talked-about triangle pattern has found its upper line there. Did I miss anything?...352 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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