Strategesis

From Safehaven.com:

The market may be at an important short-term juncture. Friday’s sell-off, after the SPX had reached the last interim target of 1301 — very near to its projected final destination of 1310-1312 — could mean that the end of the rally from 1173 (and perhaps from 1041) has taken place.

It is important to let the market speak for itself and not to jump to premature conclusions. As of Friday’s close, only a near-term (interim) sell signal had been given. More weakness and a daily close below 1270 will be needed to signify that a short-term top has been reached.

Continued

This entry was posted on 2011-01-30 at 18:31 and is filed under education, price chart, technical analysis, technical indicator. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.