Wednesday, November 14, 2012

S&P500 14 Nov '12

Sans explanation (which will be forthcoming) on the analysis method I am using, just a quicky update.

Spooz didn't has touched the weekly range low zone in late trading today. If the market wants to rally for a few days, it can do so here to make the analysis look good. Bear in mind this zone is only active this week.

Below that is the monthly range low. Above that is the weekly balance zone which serves as resistance and the quarterly balance zone, which I now consider to be resistance as well.

Beneath both monthly and quarterly balance zones looks bearish on the grander scale.

Update> A bit of dumpage into the close has taken it into the monthly range lows.I guess intervening fundamentals could be coming to play... fugly. 

1 comment:

  1. Your post was written a few months ago but its content remains up to-date. It is certainly necessary to remain careful while trading and to estimate the risks in order to protect our investments.