STTG Market Recap January 18, 2013

From Stock Trading To Go
January 18, 2013 - 5:55pm

In yesterday's recap we mentioned that now that the S&P 500 has cleared recent resistance levels: "resistance becomes support". That was shown picture perfect by the action today. Friday morning the market's showed modest levels of selling. Where did buyers step in? S&P 1475 level. What level did the S&P 500 break out over? S&P 1474. It need not be that precise - i.e. the market could have fallen below 1474 intraday for a while as long as it closed back over, but in this case it was almost machine like. A late day flurry of buying took stocks near their highs of the days with the S&P 500 adding 0.34% while the NASDAQ continues to be a laggard falling 0.04%; both Google and Apple were in the red today.Original post: STTG Market Recap January 18, 2013

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