Here’s the next level for the S&P to rally to
The indices ended firmly higher on the day near the highs for the session,
but underwent a severe test at mid-day that was successful. The day started out
with a move up, which didn’t last too long, and then they moved down steadily
and accelerated into the lunch hour, and found their lows for the day at
secondary support at 1535-36 zone on the NDX and at the 1184-85 area on the S&P
500.
The indices then embarked on a two-step rally, which took them to new session
highs on the NDX in the last hour, fell short of confirming that on the S&P, but
closed near the highs for the day.
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