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Thursday, September 2, 2010

Thursday intra-day updates!!!

8:25, The Russell supports a better bearish option then the SPX does. Also in this 60 minute chart the RUT is now showing over-bought conditions on the indicators.
Click here for a live, and updated chart!!!
7:35, The SPX has five waves up now with the RSI diverging, odds suggest it should start tracing out a 2nd(green) wave down. Also possible for the bears that the 2nd wave up(red) is completed if the 1st wave down ended where I have the green 3 and C? labeled, that would have the 2nd wave up traced out as an a-b-c (BTW, I do not have those labels on this chart, two options at a time are plenty for one chart). 7:20, Here is a look at the daily chart with the three major Moving Averages, the trendlines, and with the important highs and lows marked. Note, the SPX has broke above the 20, and 50 day Moving Averages and all the indicators are now on a buy. upcoming resistance is at the previous minor high of 1100.14, the trendline from the top, and finally would be a major previous high at 1131. Closest support is now the 20 and 50 day MA
Click here for a live, and updated chart!!!
7:03, The SPX has moved into the most bullish part of the short-term Fib fans. At the open the Trend Finder was at 25% bullish, and quickly signaled a 75% bullish reading, the only indicator that is still bearish is based on the Summation Index, which is also the slowest to turn.

1 comment:

  1. Hi

    Could you add my blog to yours please, thanks.

    http://wallstreetrader.blogspot.com/

    ReplyDelete