SPX HOD 850 R and Jan 2009 Gaps: SPX 930 +/- and 855 +/-
Corresponding SPY price level: 92 +/- and 85 +/-
Markets are trading above the pivotal supports and market actions during this week is pivotal as breaking higher or lower end of the recent trading range will trigger more selling or buying actions.
The dreaded earning reports are almost over as markets anticipated horrible earnings which those were, but IBM, AAPL, and GOOG earnings were hopeful.
Breaking above the noted market resistances will triggers upside price actions as technical reading is improving, and markets would be pricing a bit of economic bounce with stimulus program.
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