Tuesday, August 10, 2010

Stock Market Update


The short term trend in the stock market is clearly up as can be seen by the rising trendline in the above chart.  The S&P is now testing resistance at 1130 which was the high from last June.

Two consecutive closes above 1130 would be bullish in my opinion for stocks while 2 consecutive closes below the trendline would be bearish. I guess you can say the S&P is at a crossroads so we'll let the market decide which way it wants to go from here.

8 comments:

Anonymous said...

Your last post said the trend was clearly down, now you say it is clearly up. Very confusing.

Anonymous said...

It's great to see you back. Hope you enjoyed your vacation. Thanks for continuing to share your charts and market observations. They are always helpful.

Kevin said...

My last post was 3 weeks ago. A lot has happened since then.

Anonymous said...

welcome back from your holiday Kevin!

Steve-o said...

Welcome back Kevin!

Anon1, you will need more to do more than check a blog every three weeks in order to keep with the markets.

Jeffrey Sha said...

Good to see you back.

Take care and good luck.

Anonymous said...

i think now it may be time to put your bear hat back on.

Kevin said...

Thanks guys, I appreciate it.

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