Saturday, June 13, 2009
S&P Stuck between moving averages
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+.
