Outlook 5 December
Posted by Danny on December 5, 2011
Another strange week, now with the market swiftly surging back to its October highs.
Volatility remains high, and any news item can turn things around quickly.
Let’s have a look at the chart for the S&P 500 Index (click for larger image):
We are back near the important 1250 support/resistance level. A break above 1275 would be a very positive development.
But a drop back to 1200 is at least equally likely , since we remain in a lunar Red Period.
The market remains highly uncertain, so I would stay on the sidelines.
Be well, Danny
Like this:
Like Loading...
This entry was posted on December 5, 2011 at 5:00 pm and is filed under Market Commentary.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
LunaticTrader
Outlook 5 December
Posted by Danny on December 5, 2011
Another strange week, now with the market swiftly surging back to its October highs.
Volatility remains high, and any news item can turn things around quickly.
Let’s have a look at the chart for the S&P 500 Index (click for larger image):
We are back near the important 1250 support/resistance level. A break above 1275 would be a very positive development.
But a drop back to 1200 is at least equally likely , since we remain in a lunar Red Period.
The market remains highly uncertain, so I would stay on the sidelines.
Be well, Danny
Share this:
Like this:
This entry was posted on December 5, 2011 at 5:00 pm and is filed under Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.