Yesterday and today, the major stock market indexes have staged a late afternoon rally. Around 2:30 this afternoon the SPDR S&P 500 Trust(NYSE:SPY) was trading as low as $125.38 a share in a heavy volume sell off. Shortly afterward the major stock indexes staged a sharp 1.00 point move higher. Please understand that a 1.00 point move in the SPY equals a 10 points in the S&P 500 Index. Traders should watch for SPY resistance around the $128.00 level intra-day.
Nicholas Santiago
InTheMoneyStocks.com
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InTheMoneyStocks.com is a research and consulting company focused on guiding investors, swing traders and day traders to financial success. Their Chief Market Strategists analyze the markets while making calls on everything from stocks to commodities and currencies. Their goal is to not only guide their subscribers but also teach them their proprietary methods leading them to become investing and trading masters.
Nicholas Santiago
