Hedge Fund News From HedgeCo.Net


After third week of gains, stock market closes in on the ‘wall of resistance’ level that everyone is watching

(CNBC) The S&P 500 is poised to take aim at an extremely important level in the coming week. The 2,600 level has sucked in all sorts of market watchers — technicians and non-technicians alike — who are waiting to see if the S&P can cross above that threshold and move higher, a sign to some that stocks may have found a bottom during Christmas week. The S&P 500 was just shy of that level, ending Friday at 2,596.26 after touching a high of 2,597 Thursday.

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