Tuesday, October 04, 2011 10:44:56 AM
SPX Charts
These charts are borrow public charts
The first is S&P 400 – it shows the downside continuation pattern has materialized. Most indexs show a similar pattern.
Second chart is SPY – showing trendlines – most notable on this chart is the MACD TLBSS - it is at the top of the chart. It usually means the macd would continue towards the bottom of chart.
Last Chart is SPX channel with hourly stoch – it shows that price is oversold on the hourly and that we should see a pause or small bounce.
Overall opinion; I think SPX has definitely broke to the downside and the catalyst is Greek fear and recession. On a positive note for bulls, the hourly charts show chances of small bounces but ya gotta pay attention.
S&P400
SPY
SPX
These charts are borrow public charts
The first is S&P 400 – it shows the downside continuation pattern has materialized. Most indexs show a similar pattern.
Second chart is SPY – showing trendlines – most notable on this chart is the MACD TLBSS - it is at the top of the chart. It usually means the macd would continue towards the bottom of chart.
Last Chart is SPX channel with hourly stoch – it shows that price is oversold on the hourly and that we should see a pause or small bounce.
Overall opinion; I think SPX has definitely broke to the downside and the catalyst is Greek fear and recession. On a positive note for bulls, the hourly charts show chances of small bounces but ya gotta pay attention.
S&P400
SPY
SPX
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