Market Talk / Dec. 28 - Jan. 3

[Spaf]

Market Talk
Sunday Edition
December 28, 2008​

General Commentary:

Maybe we should just call it, and hope that 2009 will be a lot better. The S&P has settled in a trading range of about 925 for resistance, and 850 for support. Volume was registering very light suggesting that investors have called it a year.

A look at the chart(s)
The S&P500 [$SPX] Daily
Large Caps

Charts courtesy of www.StockCharts.com​

Pricing was still under the moving averages of 13, 50, and 200.

The Bollinger Bands have closed up somewhat, indicating reduced volatility.

The P-SAR registers bullish, closely following the higher lows.

Volume has been very light in the Christmas season.

The S-STO has decreased to mid levels of neither overbought or oversold.

The MACD has sort of flatlined in neutral.

Well, that's it for the weekend!​

Be careful out there!​

 

[WunderDog]

Not much chance for a year end sell off, huh? ! ? ! ! ! !:blink:

 

[James48843]

Happy New Year Everyone!


May 2009 bring you all much greener success!

​

 

[tsptalk]

I'm not sure what is happening volume-wise, but I assume it is light considering it's a Friday after a holiday. I don't trust this rally. If the S&P can hold the gains early next week, and stay above 918, I may have to abandon my denial.

But with the market so overbought, bullishness skyrocketing, a light volume holiday rally, the CNBC crew acting as giddy as young girls at a slumber party over this rally, I am not epecting good things next week.