This is Capital Essence’s CEM News – Market Outlook (the technical analysis of financial markets) for November 16, 2012.
…our “U.S. Market ETF Trading Map” rates the S&P as a Sell. The index printed a narrow range bar near the closely watch 1345 mark. That level roughly corresponds with the 61.8% Fibonacci retracement of the June to September upswing and the bottom of its short-term trading range. In accordance to the Japanese candlestick pattern recognition, narrow range (or neutral) bar indicates uncertainty…
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