This chart shows the ongoing soap opera with new highs. The previous all-time closing high at 1565.15 was taken out last Thursday before the Easter recess as the wine was flowing like water. Yesterday is the red down candlestick. Today all of yesterday's losses are easily recovered and the SPX prints a new all-time closing high and new 2013 closing high at 1570.25 and new 2013 intraday high at 1573.66. The all-time intraday high at 1576.09, however, remains in place. Those are the three numbers to watch to gauge who is winning moving forward. Note the critical support at 1562.50 which should create a 5 to 10-handle drop if lost. The 20-day MA at 1555.28 needs tested. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
