Tuesday, August 5, 2008

S&P 500 near resistance- Before Fed minutes

As we head closer to the FED meeting, this is how the S&P looks on the shorter term basis. We have 30 minutes to go and we will be touching the 1280 zone once the minutes are released. Once we touch the resistance are we going to head to the lower ascending trendline. That will be a massive move downwards if it happens. It will be one interesting afternoon.

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