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S&P 875 A Formidable End of Day Barrier, Crack #5 Appears

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.