SPX Weekly Chart Upward Channel

The market bulls continue to fight to regain the upward moving channels. Price has now regained the blue channel. The alternate red channel however, continues to provide reistance. Further, note the strong horizontal resistance at 1220-1225. Lastly, 1220 is critical resistance for Wednesday's trading action as well.

Thus, the SPX will make a big decision today. Take note as to whether the 1220-1225 resistance zone holds, or not. For the SPX to move convincingly up thru this resistance area, the RTH needs to move above 104, JJC above 54.5 and CRB above 342. That would verify bullish strength. Of course if resistance holds and spanks price down, and if the three sectors all stay under the levels shown, the market bears will be running with the ball. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.