On a daily basis, the P&F chart clearly shows the S&P 500 to be hitting major resistance levels. I'd expect some significant pressure from this level. However, we're less than 2% away from breaching multi-year highs.
Meanwhile, the Dow Jones Industrial average has breached it's multi-year high (surpassing the April 2011 levels) and is at levels not seen since the beginning of the recession in 2008.
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