The S&P 500 has been in sell-off mode for the better part of the last week. As well, it’s month end. So how about some mark up (insert smile)?
Technically, this could make some sense as well, as the index looks primed to backtest its uptrend line from June 4. This points to a possible gap fill and showdown near the backtest line (which will continue and extend higher if rally lasts into August).
S&P 500 stock market chart with technical analysis overlay as of July 25, 2012. Price support and resistance levels and stock market analysis. S&P 500 month end mark up. Backtest of broken trend line.
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