We did indeed stall at the 200-day moving average on the S&P 500 yesterday. But the earnings released after hours, mainly Intel and Yahoo!, gave the market a quick boost higher. I don’t like to focus on technicals too much during earnings season because the news flow can easily trump the technical outlook. So just for kicks, here are charts of the S&P 500 and the Nasdaq with what I see as the next resistance levels drawn in.
haha look at todays action….were going down even more….that was a head fake as you can see today everyone is selling….no need to use technicals, i think dow is headed for 9800