Stock Market Pop-n-Drop
It appears that we may be in for a “pop-n-drop” move this morning as an effort is made to kick the market higher. However, it appears that Intermediate-term resistance at 1494.11 and/or Cycle Bottom resistance at 1495.62 may hold and propel SPX lower.
If that is the case, there is a good argument for SPX dropping to 1460 or lower before a more significant bounce develops.
See more at: http://newsdoors.blogspot.com/2013/02/stock-market-pop-n-drop.html