who knows what's really going on here. What we could be seeing is a top forming which is being tampered with slightly to introduce a bit of bear scare....or maybe it's about to break upwards with a saturated stochastic and very low volume just as we did into the april 2010 peak....
nevertheless I will make this observation. The SP500 seems to be very fond of turning around the 16th/17th of the month this year. Since the Japanese earthquake low in March it has twice turned on monday 18th (16th/17th being the weekend), twice on the 17th and 3 times on the 16th. Monday will be the 17th and could see the SP500 up around the 200 day ema and near the top of the bolly band...and with daily stochastic looking overbought....all good reasons for a turn...but like I said, who really knows :
xjo weekend zoomba lounge, page-53
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Last
8,295.1 |
Change
68.800(0.84%) |
Mkt cap ! n/a | |||
| Open | High | Low |
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| XJO (ASX) Chart |