Technical Talk: Expect Retest Sequence

The comments below were provided by Kevin Lane of Fusion IQ . As seen on the weekly S&P 500 Index chart below (with closing prices as at 7/7/09), the Index recently slammed into a convergence of resistance and a downtrend line (red and green lines). After needing a near 44% rally from the lows just to trade up to the aforementioned resistance area, it was hard to imagine the S&P 500 would just blast up through that level. Add to the mix the fact that we recently entered a period tha...
Original article from http://greenlightadvisor.com/glablog/2009/07/09/technical-talk-expect-retest-sequence/