our technical bias is that for the near-term, additional consolidation will unfold between 1070 and 1100 levels on the S&P 500 index. The 1100 zone is too big and important to fall quickly. The market will need to correct and base for awhile before the bulls regain the needed strength to push prices up above that level.
Articles tagged with: FED
Published on: April 29, 2010
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the S&P 500 index could be entering a short-term oversold consolidation mode. And that it’s possible that the index will continue to grind higher since the internals remain strong, but it’s likely to face strong resistance at Monday’s bearish downside gap of 1211.
Published on: April 29, 2010
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標普500指數可能正在進入一輪短期超賣整理行情。不過指數也可能繼續小幅攀升，但將在周一向下跳空缺口1211點附近遭遇強大阻力。
Published on: November 5, 2009
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the market remains in a secondary downtrend but given that the S&P 500 index is merely 2 percents away from the bottom of its short-term trading range, we are not necessarily looking for a big decline in stocks but rather some sorts of choppy trading actions with bias to the downside over the next couple of days.
Published on: June 25, 2009
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money flow indicator turned positive today. This is a long-term bullish development. The current oversold condition is another short-term plus for the bulls. So we should expect a retest of the 920-950 areas over the next couple of days
