Posted is a long-term chart and short-term closeup of potential resistance at the 2360 area achieved today at the highs of the session. Whether or not it tops here, 2360 does mark a place for a relatively low risk short entry. I think shorts in the 2355 to 2360 area with stop at 2370 is a reasonable risk/reward setup. Reasonable downside target is .382 ret. of rally since July 2010 low, which comes in around 2100.
Kim Rice 2/7/11
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