SP500 Levels, Refreshed

01/21/09 11:31AM EST

I refresh the math in my models after every 90 minutes of trading. As prices change, I do.

Today’s math reveals a downside support level in the SP500 of 788, and a magnified bearish intermediate term “Trend” – we show immediate term “Trade” rally resistance at 855, and intermediate term “Trend” line resistance overhead (thick red line) up at 879 in the chart below.

Keith R. McCullough
CEO & Chief Investment Officer

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