Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
One would have expected 1395 to provide some resistance as it had multiple references pointing to it as an area that should cause some issues for the market. But there is one solution to resistance – gap the market up over that level in premarket. We saw the market begin the day at 1396 on a gap up and thus far the extremely light volume affair is nothing but a party. With two gap ups this week and nothing but green days all week, it should be interesting next week when the adults return back to town.
Next key level is 1404 which has been a pivotal area through almost the entire year of 2012.
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