Outlook 24 October
Posted by Danny on October 24, 2011
The market has been going sideways with some upward bias last week.
In line with our expectations.
Let’s take a look at the current chart for the S&P index (click for larger image):
The S&P index closed the week at its highest level since early August.
With another week of lunar Green Period coming up we can look forward to some additional gains this week. But I think overhead resistance will appear in the 1250-1270 area. Next week we will enter a Red Period again, so I would take some money off the table if that level is reached.
Stay tuned, Danny
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This entry was posted on October 24, 2011 at 10:04 am and is filed under Market Commentary.
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LunaticTrader
Outlook 24 October
Posted by Danny on October 24, 2011
The market has been going sideways with some upward bias last week.
In line with our expectations.
Let’s take a look at the current chart for the S&P index (click for larger image):
The S&P index closed the week at its highest level since early August.
With another week of lunar Green Period coming up we can look forward to some additional gains this week. But I think overhead resistance will appear in the 1250-1270 area. Next week we will enter a Red Period again, so I would take some money off the table if that level is reached.
Stay tuned, Danny
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This entry was posted on October 24, 2011 at 10:04 am and is filed under Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.