Every trader knows that an area of support for the S&P since the March sell-off has been the area around 1490-1492. What was once support is now going to be resistance and it may stall this snapback.Good news is what it is going to take to move through this "sell point". I am seriously considering taking a little off the table for the possibility that we can't get through this resistance on the 1st try.
Here is the chart:
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&b=4&g=0&id=p14473809506&a=116688257
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