S&P 500...

Monday's Chart of the Day is a view of the importance of the 2000 level in the S&P 500.  The S&P 500 has acted very well since reversing in mid-February.  It has rallied almost 10% and is still in a clear uptrend.  Now I think the market will be meeting fairly significant resistance around the 2000 level and will probably spend some time consolidating there.  This was an important area of resistance in September and October, as well as an important support level in December.