Education 101: The Beauty Of The Markets - Former Resistance Becomes New Support
Symbols: (NYSE:SPY)
Note how last Friday the markets hit a new 52 week high of $115.97. Today we slammed into that level and rose above. As the markets pulled back, the former resistance level of $115.97 now becomes support. Note how the market is gently bouncing off that level. The markets are a beautiful thing.
Source: Pro Traders Rant & Rave Blog:
http://inthemoneystocks.com/n_rant_and_rave_blog.php
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