the near-term technical backdrop still favors the bullish case hence further short-term gains likely. Although, given that there are some potential sell signals building on the horizon, we’d remain skeptical of breakouts and looking to get off the overcrowded bullish bandwagon.
Articles tagged with: financial markets
Published on: March 11, 2010
No Comment
the 9 percent plus advance from February low of 1044 on the S&P 500 index could lead to some short-term consolidations within the 1130 to 1150 areas before the market continues its advance. What this means is that given that the upward trend is still intact, the coming pullback should be considered as buying opportunity rather than chances to take profits and get out.
Published on: March 4, 2010
No Comment
although the short-term trend for the S&P 500 index is still pointing upward, recent trading actions are bearish and suggesting some short-term setbacks in the coming days. As usual we must stress out that chart watchers will be quick to change their views to bullish should the index break free from its current trading range of 1125-1112 and moves above the 1130-1150 areas.
Published on: March 2, 2010
No Comment
while Monday’s upside breakout had helped opening up for a test of January high, around the 1150 level on the S&P 500 index, the negative divergence on the Money Flow measure warns that the market could be in final stage of the present rally. So traders need to be careful about buying stocks and need to get some downside protections for those that have already been bought.
Published on: March 1, 2010
No Comment
our near-term work on price structure and momentum suggested strongly that an important near-term low had been established and the market is in an early stage of a new uptrend that points to a test of key resistance at the 1130-1150 levels on the S&P 500 index.
