In early February the SP 500 declined to a .382 retracement where the market found support and has now rallied up to the Daily .618 retracement at 1106-1107 area. The SP 500 closed on Friday at this retracement. The expectation now is for a move down using the lows of Februry 5 - 1040.75 - 1111 for watching retracements lower. The support at 1140.75 is important support, keep an eye on that area….

This entry was posted on Sunday, February 21st, 2010 at 4:46 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.