Monday, November 19, 2012

S&P close 11/19/2012

Strong day with the S&P 500 finishing up 29 at 1386.  Brings us to the top of the bearish range.  The market needs to hold above 1375 to maintain the momentum.  VIX got crushed down to 15.24.  This where it gets tricky, indicators are still pointing bearish.  The next two days will be interesting with light volume expected because of the Thursday holiday.  If we begin to falter I think we will tank down to 1350 in a hurry.  1400 is the resistance level at the moment.

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