S&P 500 Pivots
We mentioned yesterday that there will be resistance around Tuesday's previous high of 1192. The S&P 500 only reached a high of 1190 before being consumed with the consumer credit report declining $11.5 billion in February. The S&P 500 settled at 1182 level after it fell to a low of 1177 breaking last Thursday's previous high of 1181.
Thursday's primary pivot is 1183.10, which is Tuesday's previous low. If the S&P 500 trades below this level then expect the market to go lower.
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