S&P Breaking Out?
We have seen incredible strength from the S&P since the October lows, rallying near 20% from those levels and is now officially in a bull market, though we have been calling this since late August. There is strong overhead resistance identified as 4303-4309, and a break and close above there would add more strength and can really send prices higher. Heading into the weekend, the bulls maintain control of this market above 4290, so keep an eye on that level on a closing basis for the week. Bill Baruch, President of Blue Line Futures, will be on the CNBC Halftime Show today at 11:00 A.M. Central Time to discuss S&P market action, Tesla, and many other market drivers to wrap up the week.
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