Things really do change fast in one week, from a Head & Shoulders breakdown to a short covering rally. With just 15% of the S&P500 companies reporting and 85% in the coming 2 weeks the $SPX is approaching the 950 level once again. If we continue to get outstanding earnings reports from Google, IBM, Bank of America, JPM and Apple and if the $SPX breaks over 950...well watch how fast things rally to 1,000!
Below is a comparison chart from 2002/2005 & the present~ I've posted a few time on this blog as well as ITZMYMONEY... again the 950 level is key as well as the 26 week ema and the 52 week sma. Keep and eye on these key indicators.
*click on chart to expand image
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