With little fanfare or hoopla, the S&P 500 put in a closing high for 2009 today after trading and remaining above 1,110. As shown at right, this level has acted as resistance over the last several weeks. Longer term, however, 1,113 is a level that the S&P 500 has spent plenty of time above or below over the last ten years. The next test for the S&P 500 stands at 1,120, which represents the exact mid point between the prior bull market's high and the most recent bear's low.
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