S&P500 Key Levels – January 27

The S&P500 did all the right things this week, closing at its high for the month/year, making a new intraday high for the month, and breaking above its downtrend line.  As we noted last week, the stock index is trading in a 300-point range, bookmarked at its December high and low, at 4100.96 and 3764.49, respectively.  The S&P was rejected right at the top of the range today at its intraday high of 4094.21.  Watch for a breakout or fail at the key level of 4100.96.  

The key .50 fib at 4155.10 is a big number.   

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1 Response to S&P500 Key Levels – January 27

  1. Pingback: S&P 500 Breaks Out | Global Macro Monitor

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