Tuesday, October 20, 2009

S&P 500 Testing Earnings Season Trendline

The S&P closed at 1091.06.
From Bespoke:

With the equity market's negative reaction to positive earnings reports overnight and this morning, the S&P 500 is currently testing the uptrend that it has been in since the beginning of earnings season when Alcoa (AA) reported. Currently, the uptrend stands at 1,090, so as the index drifts down near that level, traders can expect at least an attempt to bounce at support.

SPX Intraday