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Tate Dwinnell
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Tate Dwinnell is an independent investment analyst who, after spending time as an analyst for CANSLIM.net, developed his own websites with the goal of empowering the self investor and helping to level the playing field between professionals and individuals. Tate currently runs a membership... More
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  • S&P 875 A Formidable End of Day Barrier, Crack #5 Appears 0 comments
    Apr 30, 2009 7:39 PM

    That 875 level continues to a be tough area of resistance for the S&P on a closing basis.  Once again a close above that level was elusive as the indices erased a sizable gain today and closed in the red (S&P, Dow) with heavier volume than the day before.  That is another indication that institutions are using rallies to sell positions and the 5th crack in this rally in the past 2 weeks.  In the past these cracks have not led to that one big follow through day to the downside indicating the rally is done, but perhaps tomorrow will be that day as we head into the weekend. 

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