Editors Note:

S&P 2,815 is a critical resistance level that could be tough to break in the weeks ahead. This was the top in both the October and November rebounds and November failed to even reach that level with a high of 2,800. The talking heads on stock TV are going to be spouting reasons like the Fed, economics, global growth, etc as the reason for the weak market but that resistance level is the key. It is easily visible and there are too many people selling there to raise cash for income tax payments due soon.

 

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