S&P 500: It looks like the S&P 500 is going to break out!


The S&P 500 broke above the key resistance level at 4,480 on Tuesday after the CPI for October came in flat, while core CPI rose at its slowest pace in two years. The index is now stuck under the trendline resistance ~ 4,515. Based upon statistics for the last 50 years that shows the index performed well most of the time during Thanksgiving week, there is a strong possibility that the S&P 500 could break out next week. The next key resistance level will be ~ 4,600.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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