Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
The market stalled out a bit earlier this afternoon at the 50 day moving average on the S&P 500. This lined up very nicely with the very key 2900 level on the NASDAQ which is a multi year resistance/support area. I’d consider the action today constructive as long as there is not a major flush here into the close. 1340 and 1370 on the S&P 500 are going to be key areas that those of you following along this year should be very familiar with – they have been battleground spots throughout 2012.
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