This is Capital Essence’s CEM News – Market Outlook (the technical analysis of financial markets) for October 16, 2013.
…our “U.S. Market ETF Trading Map” rates the S&P as a Buy. As expected, the index sold off after a test of resistance at the pink band was met with a new wave of selling interest. Money Flow measure held flat near the zero line, indicating a lack of buying interest. The short-term overbought condition is another near-term plus for the bears. This increases the probability for…
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