SP500 Should trade above 1224 levels for a breakout to touch 1250 levels. All the spikes above this levels have not been able to sustain themselves. Its also the upper resistence line of the bear flag on daily charts. Otherwise it risks falling to lower boundary ie support. Or is it waiting for Indian Markets to show it the way. Indian Markets were closed since last two days. They may open neutral to positive tomorrow depending on global cues tonite and tomorrow morning.
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