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Is 1,500 the Next Stop for the S&P?

Is 1,500 the Next Stop for the S&P?

Can S&P make a run for 1, 500? After a solid three day run, equities trended lower Thursday morning. Monday started out the week with an outside bullish day that proved to follow through. The S&P 500 index is running into a slight wall at the 1, 466/68 area which is a double in the last 35 days, ultimately proving to be a resistance point. Traders appear to be taking China's lackluster gross domestic product data and soft U.S. jobless claims in strife. That's a good thing.

So how should you play the levels? I will be looking to buy the first test down at 1, 447 if the market allows. The 1, 452 level should also prove to be a solid support level ahead of jobless claims data. Only a close back below 1, 441 will start to create doubt about whether this market will be able to follow through in the immediate term, and a close back 1, 433 will turn the action bearish.The bottom line is that bulls may want to buy the breakout.

Read on for 10 Things You Need to Know to Trade Futures

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