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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.

Thursday, July 15, 2010

S&P daily pivots looking to bounce to bearish

Consolidation of the white and purple lines appears to be the bounce point for this latest 9 day bull run.  If this is the case it definitely gives favor to the Bears as a Lower high will be put in at the 1100 level.  If the Bulls fail and the downtrend stays intact the next point of interest will be the latest lows of 1010.
Breakout of 1100 or breakdown to 1000 and then 950?  Either way market coiled to move 100 points in less than 9 days.

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