I thought the 1172 was a long shot, but apparently not so, as we just crossed it in intraday trading. Now we need to see some major follow through on Friday, as well as close above it by the close. If it does that, we should look to see whether the S&P can break above 1200 tomorrow. But closing above 1172 on the S&P today is an absolute must or we are just looking at another short opportunity for the bears. Either way I’m sure to be hanging on.
I found a good video below showing the bulls just knocking today’s price action out of the ball-park.
