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S&P 500
5,464.62
(
-0.16%
)
US TECH 100
19,220.00
(
-0.20%
)
Dow Jones
39,150.33
(
0.04%
)
Brent Oil
84.39
(
0.00%
)
Bitcoin
64,355.33
(
0.17%
)
Post# of 51804
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techcharter

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techcharter

Re: None

Monday, 06/28/2010 8:14:23 AM

Monday, June 28, 2010 8:14:23 AM

Post# of 51804
Small Rally Due

Last week's selloff looks motive. The corrective bounce began off Friday's lows. Even though the SPX futures are up 3 points, there should be a rally of at least 10 points today. Target of 1090 intraday. Maybe the larger trend resumes lower late Tuesday/ early Wednesday.

The lower bollinger band has widened to accomodate lower prices; while the upper band has rolled over, limiting upside potential.

The volume pattern remains bearish; declining volume on rallies, and increasing volume on selloffs.

Both the 50 and 200 day moving averages have turned down. The proce is below both.

The stochastics are pointing down, but in neutral territory. This is where countertrend moves typically occur, not major reversals.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p86179677656
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