SPX bumping up against that formidable 1318-1323 resistance so far today with a HOD at 1318.28. Watch this area as overhead resistance. The psychological 1300 level below serves as support creating a range of 1300-1318 moving forward. If the 1318 ceiling is maintained all day today, then the lower support levels at 1315 and 1311 will be tested. If the 1318 ceiling gives way today with more bullishness, higher targets of 1323, 1326 and 1329 will be in play.
Here comes another test of 1318 right now.
1344 (2/18/11 HOD)
1341
1338
1331-1333
1329
1325-1326
1318-1323
1315-1316
1311-1312
1305-1308
1303
1299-1300
1294-1295
1291
1286-1287
1282
1274-1277
1270
1262-1263
1257-1259
1252 (9/14/08 pre-Lehman bankruptcy)
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