Sunday, October 18, 2009

US stock market Summary - 10/18/09


From 60min charts, $spx seems to break down from bearish wedge and were backtesting it. Breaking below 1080 would signal start of short term correction.
2150 is important support for Nasadq, as seen from daily Nasdaq chart. Breaking below 2150 would open the dooor for Nasdaq to test the intermediate uptrend line.

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