Spaf
Honorary Hall of Fame Member
- Reaction score
- 45
Market Talk
Sunday
May 17, 2009
Sunday
May 17, 2009
General Commentary:
Last week was a bit of regression. The S&P gave up a modest 46.35 points and some of the technicals slipped to bearish. However, the indicies remain in ok shape, resting on their intermediate levels. Hopefully, the support at 875 thereabouts will hold. The ascending channel remains intact and it will be interesting to see what the market does as the earning season winds down.
The trading channel kept pricing above the 50 day moving average.
The Bollinger bands show a moderate volatility.
The SAR slipped to a bearish mode.
Volume has been on the lower side.
The STO has declined to mid levels between overbought and oversold.
The MACD is in positive territory, but bearish.
Well, that's it for the weekend!
Be careful out there!
