There is not much new to add to our analysis for last Friday.
We advocate that we are approaching the end of this upwards retracement and we anticipate that we will soon resume downwards action.
On the hourly, $SPX moved from last Friday's negative closing to positive momentum and then closed negative again. $SPX on the daily has not given us confirmation of a downwards wave yet. $DJIA is again less bullish that $SPX (like last Friday).
Until we get a significant drop that will generate confirmation of a new short term down trend, we can only point out that our indicators suggest that the current uptrend is coming to an end.
No comments:
Post a Comment