Tag: SMH

S&P in Digestion Phase

the big picture remains the same. There is an orderly pullback consolidation, which represents digestion period. While more backing and filling would not be a surprise, a close below S&P’s 2873 would see a massive pickup in volatility

S&P in a Midst of Short-term Consolidation Phase

several key technical indicators suggest that S&P is in a midst of a short-term consolidation phase. The fact that the index managed to hold on to most of recent gain in the face of such extreme overbought condition, indicating an internal strength. This increases the probability that the S&P will break out from current trading range as soon as the market shakes off excessive optimism

S&P in Short-term Oversold Bounce

so far Tuesday’s oversold rally has proved nothing as far as its staying power or as a possible trend reversal. While there is a high probability that the late-day rally will momentum, given looming resistance near 2750-2765, there is no reason to turn particular bullish until this zone is eclipsed. With this in mind, we’d consider taking down exposure into additional strength

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