By InTheMoneyStocks.com on March 21st, 2010 2:29pm Eastern Time
The S&P 500 gained 10 points this past week from the prior weekly close. The Index is just 9 points above the 1150 pivot resistance level which was the short term January high. Currently, the broad based index is short term extended and overbought; however, the index continues to trade higher. The next important weekly resistance levels for the S&P 500 are 1200.00 and 1226.00. The important weekly support levels for the S&P 500 should the index pullback are 1125.00 and 1100.00. SPDR S&P 500 ETF (NYSE:SPY)
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