Friday, 12 July 2013

S&P 500 record high close begs question, will it make a run toward 1800 at megaphone trend line?

The S&P 500 made a record closing high last night, although not quite a record intraday high. Will it make a run toward 1800 at the upper megaphone top trend line? Would such a run be a final blow off top for the rally from the 2009 lows? Sorry only time for one chart this morning, but worth noting that key resistance on the ASX 200 at 5000 will likely be tested today and on the Nikkei around 14560.