Friday, March 5, 2010

SPX - Market Report Daily 08032010

Today good reaction after numbers (Payrolls report at 8:30 and Consumer credit at 3:00), and market open near resistance 1132.
Next session monday and market last weeks love monday (big % green mondays last weeks).
Can we expect green monday? I'm not so sure about that. Price OK but problems with RSI here.
Trend bullish all time frames.
Hourly suport 1132 and 1117.
Next resistance high of this year (1150)
Daily Suport: 1070 and 1078 , 1095, 1117 Resistance: 1150
RSI following this indicator test both trends- resistance zone here.
Price ok but RSI tell me stay alert possible reversal monday or very soon.
Click to zoom in. Good luck and nice weekend.