FXEmpire | November 22 2012 10:52 EST
The S&P 500 Index futures rose during the session on Thursday as most Americans were away for Thanksgiving. It does look like we’re going to make an attempt on the 1400 level, but this area will be massively resistive. It is because of this that we are more than willing to sell resistive action around that handle, and as a result will be sitting still for the next 8 1/2 points or so. If we do manage to get above the 1420 level however, we would have to start buying this market as it would show a significant switch in momentum. At this point time however, we think this is more of a “dead cat bounce” than anything else.
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Originally posted here