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Article: FirstAlert[tm] 6/10: S&P 500 Has 100-Point Potential In Short Term.
- Article from:
- Investrend
- Article date:
- June 10, 2009
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Jun 10, 2009 (FinancialWire via COMTEX) -- (Comment on this article at http://www.financialwire.net/2009/06/10/firstalerttm-610-sp-500-has-100-point-potential-in-short-term/)
June 10, 2009 (FinancialWire) (By Dr. Joe Duarte) -- The S&P SPDR ETF (NYSE: SPY) has the potential to move above the 100 area if the S&P 500 (SPX) can take out the resistance at 943, as the next major test would be near 1044 on the benchmark.
So just as we head for the summer doldrums, it looks as if the market is trying to set up for one more move higher. The telltale sign is the lack of volatility, which is making the market look like a spring that is coiling, saving energy for ...