Seeking Alpha
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The S&P 500 is currently up a little more than 7.5% since hitting its 2011 intraday low on August 9th. While the market continues to be volatile, the S&P has formed a new short-term uptrend channel since that low point was reached. The top of that uptrend channel is right at the index's 50-day moving average, so that will be a key resistance level to watch if the market manages to get there in the coming days/weeks.

Source: S&P 500 Technicals