Look Out Below

Wow, here we are back at 1080 — lets see if it holds . . .

My prior best guess at how this played out was a break of 1080, a rally back to the prior range, and then a drop toward 1038 or so.

I was surprised how far that oversold snap back went over 2 days, but we are right back to highly watched key levels again.

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Previously:
Watch 1085 on SPX (January 28th, 2010)
http://www.ritholtz.com/blog/2010/01/watch-1085-on-spx/

Broken Support; Next Stop 1038 (January 29th, 2010)
http://www.ritholtz.com/blog/2010/01/broken-support-next-stop-1038/

Key Break Playbook (February 1st, 2010)
http://www.ritholtz.com/blog/2010/02/key-break-playbook/

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