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Monday, March 1, 2010

S&P 500 Day Trading March 2, 2010 Support and Resistance

Today the S&P 500 opened at 1107.25. With the market closing on Friday, Feb 26 at 1102.75, we saw a 4.5 point gap up. This gap was not filled, as the market moved up for most of the day, never sinking far below the open with a low of 1106.75. The high for the day was 1115.50. This gives a range of 8.75. This tight range is below average, and shows that we are in a bit of consolidation. Look for a breakout coming soon. The market closed the day of trading at 1140.00

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