By InTheMoneyStocks.com on April 24th, 2010 10:31am Eastern Time
The S&P 500 Index, S&P 500 INDEX,RTH (.INX) continued its winning ways by gaining 25 points at the close of Friday's trading to finish at an impressive 1217.00. This index is now higher by 82% from the March 2009 low of 666.00; this bull run is full steam ahead at this time. Every dip is being bought and this week the buying was on heavier volume which is a change in character. The weekly 200 moving average is coming into play soon. Therefore, there should be some resistance at the 1225.00 level. However, while everything looks wonderful in the stock market world it is important to remember that this market has not had a single ten percent correction yet. The two minor corrections that the market did have were eight percent declines and about four weeks in time. As for now the trend is up and the markets are strong. The weekly resistance levels for the S&P 500 Index are 1225.00, and 1250.00. The S&P Index can be tracked and traded by the SPDR S&P 500 ETF (NYSE:SPY).
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