The S&P 500 Index finished the day off 3.5 points, closed at 1141.2, but remained above its 10-day moving average. Bulls took the reins early this morning, as the market cheered a steeper-than-expected drop in weekly jobless claims. However, stocks made a drastic U-turn into negative territory by midday.
The S&P 500 Index continues to have trouble near its January peak of 1150. Although the bulls tested the 1157 in this morning, Traders took profit without any hesitation. We will still watching 1130 down and 1150 up. Today the resistance 1150 was broken, however, only the closing price above 1150 will confirm it.
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