Original post:
The S&P was recently flat at 942.43.
From Bespoke Investment Group:
June 8, 2008
...Over the last several days, rallies have run out of gas as the S&P 500 approached this level. Even today's late day surge looks to have hit a wall when the S&P 500 hit an intraday high of 946....MORE
UPDATE- From Bespoke:
On Monday we highlighted that the S&P 500 has formed a new trading range above its 200-day moving average. After reaching the top of its range (around 950) this morning, the index quickly pulled back and moved to the bottom of its range near 925. At some point the index will either break above or break below this range, and when it eventually does, it should be a fierce move....Updated chart
