S&P 500 March Rollercoaster to Continue (SDS, UPRO)

Rollercoaster.jpg

March has been quite the rollercoaster for the S&P 500 with Greek issues persisting.  The index is on the upswing again now, but for how much longer?

There is heavy resistance at 1395 for the S&P 500 going back to 2008.  This level is a short term upside target for the index, but the rollercoaster will likely continue to intensify this month, and a cautious approach is prudent.


Nimble short term traders may find this action fun.  If rollercoasters are not your idea of a good time, maybe it is best to just stay on the sidelines and watch.



 

Yes, hit the target.  Now a dip is likely for a few days, and then SPX will probably attempt another run, and maybe overshoot that 1398 a few points. Then, that selloff could be the result next week.  Let's see. Thanks

Looks like your target got hit today SC, nice work. Should be interesting to see what happens next.