Wednesday, July 21, 2010

SPX - Daily Market Thought 21072010

DAILY CHART ( short-term)

Market hold for now gap 07/07 to 08/07 >> [1060,1062]. Close daily below 1060 daily expect new test lower band of this range 1041.
RSI bearish for now test last sessions again neutral area last signal bearish >> stay bearish.
Bullish scenrio short-term -  Hold 1060 or 1041 and pic up to test 1100 ( top of the range) breakout give us 1130 possible extension 1170.
Bearish scenario short-term - Close daily below 1041 expect test the lows 1009 or residual lows around 990

Weekly and Monthly ( Medium/Long term)

Remember suport weekly chart 1063 and 1020 and key level monthly 1077 ( close below bearish close up bullish) >> Last month close below  ALERT REVERSAL. Alert signal and now?
 Weekly give us confirmation reversal or not. Bearish view need to close below last low 1009
Close weekly below 1009  give us 950 possible extension to 870.
Click to zoom in. Good luck folks. Remember holiday here.



  1. Grande análise mano. Continuação de boas férias :).

  2. Thanks my friend. Catch you later


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