Indicators Becoming Wary of the Run-Up By Mark Manning About this article: Many technicians have been keeping a close eye on the S&P 500 level of resistance at 874.09, which was the January high. Last week, on Friday, the S&P finally broke above that level before closing at 872.55. This is obviously not a big move, but it continues to support the recent strength in the indices, even though the day was fairly weak until the final hours. Many experienced traders and investors believe that we are still overdue for a possible correction, and last week it looked like we were heading that way as some profit-taking began taking place. However, the bulls continued to overwhelm the bears and push higher through all the skepticism and negative news. I have said in many of my columns during the recent bear market that this is the type of action that I would be looking for in order for a real... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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