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E-Mini S&P 500: an inside day with a failure to penetrate resistance!
The E-Mini S&P 500 failed to make any records today as it stayed in a 8.25 range! There is major resistance at $1337.50 that may be the deal breaker. A tight little range like this surely indicates that a larger move is on the horizon, but we are near to the highs. Even the days mergers and acquisitions could not cause the slightest rally today. Positive sentiment is usually created by the mergers. The energies are still pointed higher as Libya, Yemen and Bahrain were in turmoil over the leadership within their countries. Gabon stopped oil production in Africa as a strike ceased production of some 240,000 barrels a day.