Yesterday's Point of Control is acting as resistance.
The market found support at the pivot high of 1095.25 made on 11/19/09.
After bouncing off the 1095.25 pivot, the market tested Yesterday's Day Session Low and the Overnight Low. At 1035 ET, the NYSE Advance Decline Line started to make a higher pivot high coning off the morning's low. This confirmed the possibility that the market might go higher, and it did. The market advanced until it hit yesterday's Point of Control.
Charles
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