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Friday, August 27, 2010 6:17:08 AM
Friday - Hold Short SPX - oversold bounce
Hold short under 1055 SPX. Tradable long above 1055, hold long above the 1075 SPX area. Shorts should be careful here as we could have a strong move up with the GDP figures. Stochs on the Woo hoo are over sold and MACD is having positive divergence because of the lack of volume.
The Euro and SPX sequence below.
Hold short under 1055 SPX. Tradable long above 1055, hold long above the 1075 SPX area. Shorts should be careful here as we could have a strong move up with the GDP figures. Stochs on the Woo hoo are over sold and MACD is having positive divergence because of the lack of volume.
The Euro and SPX sequence below.
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