while the near-term overall technical backdrop remains positive, the bulls need to clear the 1083 hurdle on the S&P 500 index quickly or the market will be facing another massive sell off.
儘管近期總體技術面依然利好,多頭需要立即將標普500指數拉升至1083點上方,否則市場將面臨新一輪大跌。
although Monday trading action was clearly disappointed, the near-term technical bias still favors the bullish case as long as we hold above last Friday low. With that said, it’s possible that the market is in an early stage of building a meaningful near-term low, so we could see more consolidations in the coming days. Buyers however, should be mindful that all bets are off if there is a close below last Friday low of 9822 on the Dow.
CEM News - Market Outlook (the technical analysis of financial markets) for February 9, 2010: “…As indicated in the above chart, Monday’s trading action is clearly disappointing as the bulls failed to kick in a meaningful upside follow-through following Friday’s bullish hammer. Additionally, a failure to hold above the important psychological 10000 level suggested that the market might have to …” Subscribers, please login to read the rest.