SP500 Breakout is Being Retested

Don’t look now but the S&P 500 index is at this moment retesting its high from 11-05-2010 of 1227.08. It is just below that number at the moment at 1224.56. A failure to hold here may then lead to a challenge of the breakout above the April 2010 high.

By the way, just because it is retested, that does not mean the breakout will ultimately fail. We simply have to watch the way it behaves especially if it threatens the April high.

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Enjoy your day.

David

Standard Disclaimer: Remember, it’s your money and your decision as to how to invest it.

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