the S&P could move up and test resistance near 1100 after recent pullback found support near 61.8% Fibonacci retracement.
Articles tagged with: Wall Street
Published on: June 25, 2010
No Comment
the fact that the S&P gave back more than 60% of its June recovery gains in this week’s correctly anticipated fall shows underlying weakness. This increases the probability for a retest of its prior correction lows near 1040.
Published on: March 26, 2010
No Comment
trading pattern on the S&P 500 index suggests strongly that short-term condition is ripe for some short of pullback consolidations. However, as long as the S&P holds above the February trend channel, the upcoming correction could be just another blip in the multi-month rally, which will offer a much more attractive buying opportunity.
Published on: March 15, 2010
No Comment
based upon recent trading actions, the market is setting up for a short-term pullback consolidation period, which could last about 2 to 5 trading sessions. Long-term technicals, however, remain bullish so buying on dips should be rewarding.
Published on: January 13, 2010
No Comment
given that stocks have risen for nine months without a 10% correction, Tuesday sell off had got some people nervous. However, unless the bears manage to take out support around the 1115 level on the S&P 500 index and the VIX surges above its 200-day moving average, this decline is merely a temporary setback or another blip in the multi-month rally.
