Aug 08

S&P 500 - SPYs Up Against Important Resistance Plateau

Less than 2 hours prior to the FOMC announcement, here is the BIG picture of the SPY's, which shows the June-Aug rally peaks at 129.43 -- a very important resistance plateau which if hurdled and sustained will argue for upside continuation towards a test of the May high at 132.80.

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Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!