- A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.
Saturday, June 13, 2009
The weekly chart shows the range bound action of late on the S&P as it appears to be consolodating the 40% move off of March lows.
Currently at the top of the range 885-952 but looking toppy and could retrace back to 5 week Ma of 922.
As well a breakout above 952 could mean a touch of the 50 week MA at 975 and then onward to 1000+.