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Given below is the monthly chart of Nikkei225 for the month of June 2009. So far it has recovered only 28% from its January low of 7000. It is not a great achievement in comparison to its other asian peers.
Chart: Quote.com
Two red horizontal lines given at 8957 and 11312 respectively are the two levels [...]
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S&P500 or $SPX or ^GSPC is waiting for some triggers that are not in sight in the near future. Until then it would be just a lacklustre trade with some volatility caused by economic data from time to time. Notable this week would be:-
1. Existing Home sales on the 23rd
2. FED rate, Durable goods [...]
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This index gave two daily closes below 4300, the lower range of consolidation. Weekly chart given below also portrays a lacklustre picture as RSI has been trending flat for over many days now. All this implies that traders and investors are still not hopeful of early recovery in this economy. Next earnings season may [...]
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Candlestick pattern on the weekly chart below suggests that it may trend sideways to neutral in the days ahead. 13week RSI is still in the overbought zone, implying that the prices are over-valued currently. But it seems that this market is not in a mood to undergo a serious decline in the near future. [...]
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