Technical patterns

The market has been trading in a range 1120-1060 since May.

Last week it bounced off the 1060 level and stocks have soared. Now the S&P 500 is close to the resistance level of 1120 (click on the chart to enlarge it).

This level has become important and a break on the upside may result in a major move.

As usual, my subscribers will rely on my indicators. They are discussed every week in my The Peter Dag Portfolio. Just click here to subscribe.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked best market timer in the 12 and 6 months ending 8/20/10 by Timer Digest

To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.

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