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S&P500 : The short term uptrend in this index seems to be over. Momentum oscillators are almost into the negative territory that no fresh short-term long positions would be advised in such a scenario. However, it would be too early for Medium to Long term investors to throw in the towel.
Immediate strong support for [...]
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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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DOW has not been able to manage past our much awaited mark 9000 as it is facing stiff resistance from 8800 levels. As shown in the chart below, its 200dma has somehow drifted lower and the index giving closes well above this moving average is a positive signal.
But the moving averages are still far [...]
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