The positive divergence formed on 60 min Nasadq and $SPX charts' MACD indicators played out. Nasdaq bounced off from 2040 and $SPX bounced off from 1035 strongly this morning. For Nasadq, watch the short term downtrend line (the black line in the 60 min Nasadq chart) which now stands at around 2070. If 2070 can not be taken out, the bounce will be weak. If 2070 is broken above, the bounce will have a little more leg before the market resumes downside action.
Monday, November 2, 2009
US stock market morning update --- 11/2/09
The positive divergence formed on 60 min Nasadq and $SPX charts' MACD indicators played out. Nasdaq bounced off from 2040 and $SPX bounced off from 1035 strongly this morning. For Nasadq, watch the short term downtrend line (the black line in the 60 min Nasadq chart) which now stands at around 2070. If 2070 can not be taken out, the bounce will be weak. If 2070 is broken above, the bounce will have a little more leg before the market resumes downside action.
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just wondering typically when you post the blog every day?
ReplyDeleteFor morning update, I post around 7 to 7:30AM PT. For daily summary, the post time could varies.
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