Friday, March 11, 2016

MTU Weekend Ed. - That Gap Beyond Resistance (3/11/16)

SP500 has now approached a resistance cluster (Chart 1).  200-day moving average, the downward trend line from the late November high, and the bottom of Dec-Nov price channel all pose as potential resistance.  Furthermore, the impressive rally since the February low could be at the end of a potential zigzag (Chart 2) .

Meanwhile, the unfilled gap  around 2040 is comfortably above the resistance cluster. Will it get filled this month?




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