S&P 500 breaks out on broad rally fueled by fiscal cliff resolution

theflyonthewall.com

The index was last up over 2%, a relatively rare-sized move for a major stock index. The resolution of the worst aspects of what was called the fiscal cliff as of yesterday has restored confidence to markets. At the current index level of 1454.96, next resistance is at 1460.93. Support is at what was the peak of the move up from the November lows at 1447.75.

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