Finishing The Week With A Bang

What a week! The SP500 broke through the trading range on Monday, then it spend the next three trading sessions pulling back to test the breakout. On Friday, the market opened with a bang and the SP500 immediately went back above the upper level of the trading range. It spent most of Friday's trading session attempting to break above Tuesday's intraday high of 1148. As the third quarter coming to an end, the window dressing activities will most likely push the SP500 to the 1170 level.

Here is a 30 minutes intraday chart highlight this week's SP500 moves:



and here is the daily SP500 chart showing the next target level: