SPX: The Bulls revealed its strength when pushing the index well above 1342.15 resistance level helping the index closed at 1345.20. This 1345.20 is well above MA50 daily and this result may place an end to the Bearish Trend of May, 2011.
A careful market/chart analysis can be found at http://cobrasmarketview.blogspot.com/ which calls “A PULLBACK OF SOME KIND AHEAD”.
I just want to add that the market trend seems beginning to change from Bearish to Bullish. I think a range trading may be ahead and I expect that the pullback will find its price support at 1333.06.
June 01, 2011: A pullback in SPX is imminent however it's size could be limited.
stockmarketwinner 