Weekly chart has now turned down. Previous two times this has happened the index immediatly found a low and reversed (sign of the bull). It is also doing this right at the 20 dma or the holy grail. If the 20 does not hold and we close below 920 the bigger correction should be underway. The 950 time and price square out seemed to exert its influence.
Monday, June 15, 2009
SPX
Weekly chart has now turned down. Previous two times this has happened the index immediatly found a low and reversed (sign of the bull). It is also doing this right at the 20 dma or the holy grail. If the 20 does not hold and we close below 920 the bigger correction should be underway. The 950 time and price square out seemed to exert its influence.
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