Stocks Once Agian Test Key Support
Hi guys, I know I haven't been posting that much lately and the reason is simply because I do spend most of my time trading, watching the markets and managing a few other projects that I am involved in. I will try to update this blog more often as there is much to talk about.
Above is a daily chart of the S&P500 and in my opinion the trend is still up. The horizontal line represents a key support zone which so far as been able to support this market. There is also a recent trendline that can be drawn off of the March and April lows which coincides with this support zone. Until this area is clearly violated, I will have to remain a bull.
Posts
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
1 comment:
NDX index daily is showing stochastic divergence; both DIA and SPY are showing weekly stochastic divergence; IWM is showing a nice head and shoulder pattern about to break the neckline; FXI and EEM are showing
classic stochastic divergence and are lagging behind SPX. Both TLT
are SPY are rallying together.
This shows me a "sick" market.
Post a Comment